EVENT SUMMARY ¦ Credit Connect: Collections Technology Think Tank 5.1

More updates like this from Subscribe Link: Credit Connect It was great to be able to chair the Collections Technology Think Tank again, there is always something new and it is great to watch how the thinking is developing.A couple of themes for me this session, especially; how we are blending human and digital interaction to a much greater extent that we ever were before, the gradual acceptance that more data is being gathered and being used, together with… Read more

Building Communication that works – intelligibility webinar

Designing communication to support and get resultsEmbedding intelligibility in the debt management sector Join us on the 21st February 2024, at 10am, for a session on designing and building communication that works – intelligible communication. What is it, what techniques can be used and, from experience, what does success look like. Supporting customers is not always easy and if you can’t understand their needs or explain their options generating good customer outcomes is tough.  And, in the current regulatory environment,… Read more

LINKS ¦ Stories from last week

See our weekly headline roundup, every Friday, here New Legislation Targets Hidden Pricing in RetailA forthcoming law aims to ban drip-pricing in retail, compelling retailers to include mandatory fees like booking fees in headline prices for more transparency. Read more Disposable Household Income Sees ImprovementDespite the ongoing cost-of-living crisis, there has been a reported increase in household disposable income, attributed to wage growth and decreasing inflation. Read more Over 47,000 UK Businesses on Verge of CollapseA significant number of UK… Read more

[INSIGHTS]: Reforming the Consumer Credit Act Consultation

Summary of the new consultation regrading reform of the Consumer Credit Act: link Summary The UK government is planning to reform the Consumer Credit Act (CCA) to ensure that it remains fit for purpose and effective in protecting consumers. The government has received feedback from stakeholders on how the CCA should be reformed and has published a report summarising the key themes emerging from the responses. The report outlines the government’s next steps and how it will engage with stakeholders… Read more

[LINKS]: Articles of the week

See all the links and our weekly headline roundup here. Understanding Bailiffs vs. Debt Collectors: Maxine McCreadie, a personal finance expert, highlights key differences between bailiffs and debt collectors, emphasizing the importance of knowing your rights. Read moreThe Rise of AI in Financial Scams: A disturbing account of an AI-driven kidnapping scam demonstrates the increasing sophistication of financial fraud. Read moreFSB’s Caution to Italy on Bad Loans Market Overhaul: The Financial Stability Board warns Italy against proposed laws that could… Read more

DEMSA Summary: Personal Insolvency / IVA early failures / FCA updates / Consumer Duty / Collaborations / Training / Events

Summary – Find the full update here (including all the links & more) Summary The latest bulletin from DEMSA reflects significant developments and trends within the debt solution marketplace, highlighting the organization’s growing influence and the evolving landscape of debt management, particularly in response to regulatory changes and consumer protection standards. The bulletin underscores the importance of adapting to new regulatory expectations, the impact of research on policy development, collaborative initiatives for better consumer support, training for professional development, and… Read more