- Members must advise clients of the outcome of negotiations with creditors. This is not limited to the situation when creditors have refused to deal with members, or have returned payments, or have refused to freeze interest.
- Members must keep clients informed of any developments in the relationship with creditors, in particular the issue of default notices or the threat of issue of legal proceedings.
- Where the service provided by the member includes debt repayment the member must;
- take full account of debts such as mortgage payments, rent, utility payments etc including any arrears already incurred on those debts, in setting monthly repayments, and
- reassess the payment plan and consider any necessary changes (including bringing the plan to an end) to ensure it remains in the client’s best interests, as soon as it becomes aware of material change in the client’s financial position. The client should be advised of any recommended changes without delay. Repayment plans should in any event be re-assessed on at least an annual basis and the client informed of the outcome of the reassessment.
- Clients should at the outset be given a statement of how their money is being disbursed. In addition, where a plan has been agreed, the balance owed (or if an accurate figure is not known, the best estimate), the period of payment needed to clear the debts and the fee charged by the member must be included in the statement. Clients must be kept informed of any material changes to these arrangements at the time they occur. Members should meet any request by a client for a statement of his or her position.
- Members should respond to complaints promptly and fairly. (See under “Redress”).
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