The Ministry of Justice has launched a consultation process on the regulation of debt management companies. The consultation paper will explore whether regulated schemes should be introduced, how they would work and whether tighter non-statutory regulation of current schemes would be more appropriate.
Debt Advice Foundation welcomes the move, which combines two of the charity’s central campaigning objectives; tighter regulation of Debt Management schemes and the appropriate application of such schemes for the benefit of both debtors and creditors.
