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DEMSA Gets OFT Code Approval

Posted on December 2, 2008

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”.