Collection of Consumer Credit Debt - Tips for Success for FCA Regulated Firms

Introduction

Rules surrounding the collection of consumer debt, whether from mainstream credit, high-cost-credit or the charitable sector are becoming ever more complex and difficult to navigate, especially now firms need to overlay the consumer duty requirements.

Historically the FCA’s focus has his been on forbearance measures, clarity in communication and taking reasonable action to recover debts but more recently this has been added to by the Vulnerable Customer Guidance, Breathing Space Regulations and now the Consumer Duty.

With the risks of getting it wrong higher than ever and rules becoming ever more complex, it is essential you ensure you are taking the correct steps.

This short webinar will give clarity where there is ambiguity, after watching this webinar you will be able to understand the procedures which contribute to a successful collection of regulated debt, including steps required by the FCA.

What You Will Learn

This webinar will cover the following:

• Acceptable collection techniques
• Adapting communications to your target market
• Operating in different jurisdictions
• The Consumer Duty - the role of debt collection and how to achieve good outcomes for customers
• Managing financial difficulties
• Managing vulnerable customers in line with the vulnerable customer guidance
• Statutory notices
• Statute barred debts

This webinar was recorded on 25th September 2023