What is the Debt Resolution Forum?

The Debt Resolution Forum is currently a consortium of 27 firms in the debt management industry. Their purpose is to set up a body to act as a regulator and represent the companies and advisors within the debt management industry.

What is the reason for the Debt Resolution Forum?

The regulation of debt management companies has become more significant as the number of insolvencies increase. The subject is particularly controversial as the banks relate their decreasing profits to the aggressive marketing strategies of the companies offering IVA's and Bankruptcy advice. Hence, the Debt Resolution Forum is a proactive step to increase best practice within the industry.

What has been achieved?

Although at present the firms are only having initial meetings it is expected that the debt resolution forum will offer education and training for it's member firms. Their aims will probably centre on setting standards that will benefit creditors and debtors. More information is expected in due course.

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