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The OFT has issued guidance for debt collectors on how to deal fairly with debtors. It is aimed at all consumer credit licence holders and applicants, and applies to collection of debt once an account is in default.
Download Debt collection guidance (pdf 117 kb).
Consumer Credit Directive
The Consumer Credit Act and regulations are changing as a result of implementation of the Consumer Credit Directive (CCD). Regulations were laid on 30 March 2010 and are due to come into force on 1 February 2011. It will however be open to firms to comply before then if they choose. Details can be found on the Department for Business, Innovation and Skills (BIS) website.
Relevant OFT guidance will be updated in due course in the light of the CCD changes.
If you are an adviser or third party organisation and you would like to complain to the OFT about the debt collection practices of creditors and/or their debt collection units, as well as external debt collection agencies, please download and complete the complaint form (Word 123 kb) and return it to the OFT at the following address:
Enquiries Centre
Office of Fair Trading
FREEPOST
London
EC4B 4AH
Email: enquiries@oft.gsi.gov.uk
The OFT complaints evidence checklist (pdf 90 kb) may be helpful when dealing with complaints against traders collecting consumer credit debts. It can be used alongside the OFT's debt collection guidance and the complaint form.
The OFT published on 11 December 2006 the findings of a review into how guidance to debt collectors has changed behaviour within the sector and raised awareness. The OFT's guidance on debt collection, issued in July 2003, sets out minimum standards for debt collection by those holding consumer credit licences.
The OFT found that:
Download Debt collection guidance compliance review report (pdf 227 kb).
See press release.
Back to: Consumer Credit Act
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