CFS good practice checklists

 

The CFS good practice checklists aim to clarify communications and encourage best practice around CFS offers. They were published on the 4th May 2010 and are a result of partnership working between AdviceUK, British Bankers’ Association (BBA), Citizens Advice, and the Finance & Leasing Association (FLA).

There is a creditor checklist and an adviser checklist, giving specific guidance on dealing with CFS offers. The anticipated benefits of improving communications are universal, including benefits for all involved:

  • Clearer communication will remove the need for additional correspondence asking for clarification or the re-submitting of offers;
  • Fewer repeat appointments/contacts from clients seeking further advice, thus preserving the advice sector's limited and precious resource for clients with more complex debt problems;
  • Creditors will receive regular payments, more likely to be able to maintain contact with the client and retain the client's custom over the longer term; and
  • Reduced stress for clients as they will receive clear communications about their repayment offers.

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