DEMSA - Debt Managers Standard Association

Who are DEMSA?

DEMSA is the first trade body within the debt management industry to successfully secure approval for its code of practice under the OFT Consumer Codes Approval Scheme – for advice on Debt Management Plans (DMP) and Individual Voluntary Arrangements (IVA).

The Debt Advisor is a member of DEMSA and we fully subscribe to the DEMSA Code of Conduct which has been approved by the OFT (Office of Fair Trading), which covers the following areas:

  • Compliance with Statutory Regulations and OFT Debt Management Guidance
  • Marketing, Advertising and Publicity
  • Information to Customers
  • Contract Terms
  • Client Accounts and Interests
  • Dealings with Lenders
  • Complaint handling

DEMSA's aims...

The main aim of the DEMSA code is to encourage debt management companies to provide the highest services and standards in which the public and the credit industry can be confident in. Membership of DEMSA which is an OFT approved Code of Conduct is strictly reliant upon UK Debt Management Companies being able to demonstrate that they comply with the high standards set out in the DEMSA Code of Conduct.

The OFT only approves codes that have proved to be effective over a period of time in safeguarding and promoting the interests of consumers beyond the requirements of law.

At The Debt Advisor our team are trained to give impartial debt advice and recommend the most appropriate debt help programme - whether the outcome be an IVA, a debt management plan or another debt solution.

 

 

 

Debt Managers Standards Association

The Next Step

All debt solutions should be very carefully considered; we will always provide you with the best advice to ensure you get a soft landing away from the burden of debt. Simply forward your details on our Contact Form and we will contact you. Alternatively ring us on our FREEPHONE ADVICE LINE 0800 085 1825 to have a full consultation with our specially trained advisors.

The Insolvency Service has produced a guide: In Debt - Dealing with your creditors, to support those who find themselves in financial difficulty during the recession.

 

Financial Information

All debt solutions should be very carefully considered. Fees will be charged if a solution is taken in order for us to set up and maintain your plan - all fees will be outlined during your consultation. For further information on fees, please see the FAQ section of the different solutions available. Retained payment may place you further into arrears. The Debt Advisor complies with the Consumer Credit Act and you have a right to a cooling off period of 7 days. It is likely that your ability to obtain further credit in the short term will be affected and this may also be the case over the medium to long term. 

 

 

All debt solutions should be very carefully considered. Fees will be charged if a solution is taken in order for us to set up your plan and maintain it - all fees will be outlined during your consultation. For further information on fees, please see the FAQ section of the different solutions available. Retained payment may place you further into arrears. The Debt Advisor complies with the Consumer Credit Act and you have the right to a cooling off period of 7 days. It is likely that your ability to obtain further credit in the short term will be affected and this may also be the case over the medium to long term