Wednesday 8th of April 2009
A new deal allowing borrowers who seek debt advice 30 days before collectors contact them has been welcomed.
The Consumer Credit Counselling Service noted that anything encouraging people to look for help - which could include IVA advice - is likely to be of benefit.
And spokesperson for the charity Frances Walker explained that it is a "good idea" for debt collectors to acknowledge the fact that borrowers are trying to find a solution to their problem.
However, she added that this should extend to a commitment not to continue contacting a consumer after they go onto a debt management plan.
"It would also be helpful that once … the creditors have agreed and accepted it that they don’t go on hassling the person," said Ms Walker.
The 30 days of breathing space came into effect this week after an agreement between the government and the Credit Service Association, which represents around 300 debt collection agencies.
- Debt consolidation loans falling, figures show
- Britons 'changing attitudes' towards debt management
- Homeowners 'more concerned with debt management'
- Low interest rate 'contributing to debt management efforts'
- Debt management growing in importance, survey finds
- Taking financial control 'is a top priority'
