As a business that has been operating in the debt management sector for the past 15 years, EuroDebt has built a sound reputation for providing face to face debt advice to consumers in their own homes across the UK.
DEMSA is the only trade body in the debt management sector to have received approval of its code under the OFT’s Consumer Codes Approval Scheme. It works closely with the OFT to help promote high standards in the industry to protect the interests of the public and the creditors to whom they owe money.
DEMSA members must comply with the Code of Conduct to provide clients with fair and transparent information in advance of any service commencing, to enable them to make an informed decision and change their mind if they so choose, without charge.
The DEMSA code embraces IVAs and the new proposed OFT guidance notes have been extended to cover Protected Trust Deeds and Bankruptcy Support, which is welcomed by EuroDebt.
Vance Parsons, Director of EuroDebt says:
“This is a hugely important development in the 15 year history of EuroDebt. Whilst our business has always worked to the highest standards in terms of fairness and transparency, DEMSA membership gives recognition that clients and creditors can have every confidence working with us.
With approximately 2 out of 3 people starting a Debt Management Plan (DMP) going to a commercial provider, it is important that they can choose a provider they can trust.
“We have helped tens of thousands of individuals with serious debt problems relating hundreds of thousands of credit agreements with all the major lenders and credit card issuers. On average EuroDebt retains a client on their Debt Management Plan for over 57 months.
This demonstrates that we have an excellent record of our clients maintaining their plans and consistently making payments to their creditors.
Providing a fair return to creditors based upon what a client can reasonably afford is fundamental to our business model, where we are licensed to use the Common Financial Statement.”
EuroDebt has over 70 trained and experienced regional advisors who visit prospective clients in the privacy of the client's own home.
The advisors are individually licensed and supported by office based client support staff, whose primary focus is to ensure debt solutions are professional and personally delivered to clients.
Michael Land, Chairman of DEMSA adds:
“DEMSA membership has become the sign of quality in the debt management sector. Every Debt Management company applying for membership is subject to a rigorous audit to ensure full compliance with our code of conduct.”
