DEBT RESOLUTION FORUM SECURES SUBSTANTIAL FUNDING FOR TRAINING AND REGULATION
DRF changing the landscape of debt solution delivery through:
Adviser education
Customer facing training
Professional qualification
Independent regulation
Developments will create quality “kite mark” for debt resolution companies
Independent monitoring and regulation by Insolvency Practitioners’ Association (IPA) to go ahead
Three module Certificate in Debt Resolution to be launched in Spring 2008
Six-figure grant received from insolvency profession
The Debt Resolution Forum (DRF), representing 28 of the UK’s leading debt resolution firms, today (TBA) announced that, through the insolvency profession, it has secured substantial funding to roll out an ambitious training and independent regulation programme, designed to create both public and corporate confidence in the debt resolution industry.
The funding will be used to quickly put in place two industry leading initiatives:
1. Commence independent accreditation, monitoring and regulation scheme, to be provided by the Insolvency Practitioners’ Association, judged against DRF published standards. (see attached document)
2. Create the first elements of the Certificate in Debt Resolution for staff within DRF member companies
DRF published a set of standards in 2007 and these have been widely welcomed by professional, creditor and debt advice bodies. The grants received will enable the DRF to give these standards force by authorising the well-respected insolvency regulator, the Insolvency Practitioners’ Association to accredit and regulate members and monitor ongoing compliance.
The DRF is currently designing its proposed “Certificate in Debt Resolution”, a three module, fully examined course:
Module 1 – Understanding the Debt Market Place
Module 2 – Understanding the Range of Debt Solutions
Module 3 – Practitioner Case Studies
The aim is to launch the study material for the first paper in March 2008, leading to examinations in the autumn, quickly followed by the launch of paper 2, also in 2008.
The course is being created with the aid of DSW, who, amongst other projects, have provided extensive learning programmes to the financial services sector. DRF intends to obtain independent academic accreditation for the course, thus giving an industry wide recognised external qualification to the student.
The first two modules of the course will be important for all client-facing staff, whilst the third will be aimed at those who are advisers and/or supervise staff and will lead to the award of the full Certificate.
Commenting, DRF chairman, Chris Holmes, said:
“We are delighted to have secured substantial funding for our ambitious education, standards and independent accreditation programmes. 2008 will be a very significant year for the DRF.
We are re-opening our books to new members from January 1 in the full knowledge and confidence that we can offer comprehensive training and the independent regulation that is necessary to bring consumer and creditor confidence to the debt resolution industry.
The Board of Directors of DRF however warn both current and prospective members that compliance with these standards is vital to the credibility of the industry. All members, including founders, are at risk of expulsion if they are not seen to be working as hard as possible to implement the necessary standards of appropriate advice and customer care.
The coming 12 months will see the DRF logo recognised as a transparent and credible quality “kite-mark” for debt resolution companies, which we believe will be of huge benefit to both our members, creditor institutions and individual debtors”.
- ENDS –
John Tegg
www.protectiva.co.uk
0845 673 9999
We will make all your IVA payments for you if Accident or Sickness stops you paying them yourself.
