Subject:
"Government and lenders joint statement on credit summit "
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wai fong
Policy & Voice Development Officer, LASA Member since 20th Jun 2007
Government and lenders joint statement on credit summit Thu 27-Nov-08 11:50 AM
The Government and industry agreed the following joint text:
The industry agreed that where a not for profit debt advice agency has formally notified that a consumer is in serious discussion with that agency on a draft debt repayment plan then the credit card company will suspend collections activity whilst these discussions continue provided that they are concluded within 30 days, with the option of extending a further 30 days subject to demonstrable progress being made but not yet concluded.