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During 2008, we continued to work closely with the OFT, making improvements to our compliance audit process, and we are continuing to monitor all areas, making any changes when necessary.

Once again our ongoing monitoring, including customer satisfaction surveys and mystery shopping, has shown a very low incidence of complaints from members‚ clients

We are delighted to welcome Baines and Ernst as members of DEMSA and Nick Pearson of Baines and Ernst and Ivan Cooper of Chiltern to the board of directors.

We can also report that we have a considerable number of prospective members in the pipeline and Richard Wharton has been busy with compliance audit visits taking place over the year.

It is noticeable that in many cases applicants have to rethink their marketing approach to ensure that they are fully compliant with the DEMSA code, and we are pleased to say that in every case they readily agree to do so. This ranges from minor to major alterations in their marketing and administrative approach to consumers. This can only continue to raise standards in the debt management industry.



2 October 2009 policy decision

September 21, 2009 Comments Off on policy decision has decided from 1 October 2009 only to admit debt managers who are able to display the OFT Consumer Codes Approval Scheme (CCAS) logo. Since DEMSA is the only trade association that holds this accreditation, then they must, therefore, be members of DEMSA.

The object of the CCAS is to raise standards beyond those required by law and is to be applauded for its concern to ensure that the highest standards of consumer protection are available through their website.

Welcome to our new website

July 9, 2009 Comments Off on Welcome to our new website

This is our new website, which includes this News section. The subjects are limited to DEMSA related news topics.
We hope you like the new site and we hope you find everything you require.

DEMSA Gets OFT Code Approval

December 2, 2008 Comments Off on DEMSA Gets OFT Code Approval

DEMSA has become the first trade body within the debt management industry to successfully secure approval for its code of practice under the OFT Consumer Codes Approval Scheme for advice for debt management plans (DMP) and Individual Voluntary Arrangements (IVA).

The OFT only approves codes that have proved effective in safeguarding and promoting the interests of consumers beyond the basic requirements of the law.

DEMSA, through its members, aims to encourage the highest standards within the Debt Management Industry and to ensure clients are dealt with in a responsible, compassionate and transparent manner when finding an appropriate solution to their financial circumstances.

John Fingleton, OFT Chief Executive said, “DEMSA has undertaken a rigorous assessment to achieve OFT Code Approval, and I congratulate them on their work to improve standards for consumers using their services. Consumers can now be confident that where they see the OFT Approved Code logo they will be treated fairly, and that an effective redress scheme is available if this is not the case”.