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DEMSA welcomes the Money Advice Service’s commitment to quality standards in debt advice

Posted on July 19, 2013

The Debt Managers Standards Association (DEMSA) has endorsed the Money Advice Service’s commitment to raising standards in debt advice by setting out a quality framework. The framework, which was published by the Service last month, is designed to raise the bar for organisations operating within the debt advice sector. Three guiding principles sit at the heart of the framework – high quality organisations providing debt advice should be: focused on clients’ needs; well-governed; and committed to learning.

Explaining why DEMSA supports the framework, Melanie Taylor, Director of External Relations at DEMSA said:
“Anyone with debt problems has the right to expect that wherever they turn for advice they will receive high quality advice that is tailored to their needs and circumstances. That’s why we fully support the Money Advice Service’s framework which is designed to ensure that all debt advisers across the UK operate to the same standards framework.

“As our name suggests, we’re all about setting high standards for debt advice. At the organisational level our Code sets out clearly how firms should operate to ensure they provide a high quality service to their clients. At the individual level we launched our own debt advice qualification – ‘The Certificate of Money Advice Practice’ – two years ago, in conjunction with the University of Staffordshire and the Institute of Money Advisers. We will continue to work with the Money Advice Service to help develop the framework and, of course, will ensure that our own Code and qualification supports the Service’s new framework.”

Caroline Siarkiewicz, Head of the UK Debt Advice Programme at the Money Advice Service commented: “Our Quality Framework is an important step forward in our drive to bring the quality of debt advice in line across the whole country. We welcome DEMSA’s support and look forward to working collaboratively with the organisation, and many advice providers in the sector, to support the role it has to help ensure everyone receives high-quality advice.