Using the CFS

• Introduction to the CFS
• Trigger figures
• Budgeting issues
• Licencing
• Using the CFS
• Governance of the CFS
• Schemes, guidance & codes
• Training
• Technical issues

This section covers who can use the CFS and when it should be used in negotiations.

• Q:Can a member of the public use the CFS?

  A:

  The CFS is not designed to be completed by the general public. The CFS can be completed by:

  • A third-party organisation negotiating debt repayment offers to creditors on behalf of a client; or
  • An organisation that is involved in making decisions about whether a debt repayment offer should be accepted.

  If you are a member of the public you can:

  • Create a budget in the style and format of the CFS through My Money Steps, which is a self help interactive debt advice service that members of the public can use; or
  • Get help with to prepare a budget sheet through a free, independent debt advice agency; or
  • Call National Debtline on 0808 808 4000 for advice or visit the National Debtline website.

• Q:What is the current version of the CFS?

  A:

  The current version of the CFS is April 2019. The CFS needs to be used in conjunction with the most current version of the trigger figures.

• Q:How should the CFS be used in debt negotiations?

  A:

  The CFS should be prepared by the third-party agency on behalf of the client. The CFS trigger figures are sensitive and should not be shared with the client. Trigger figures are not available publicly. Access to this information is dependent on holding a CFS licence.

• Q:What are the good practice checklists?

  A:

  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).

  To find out more access the CFS good practice checklists.

• Q:How should the CFS be used in the collection and/or recovery of debts?

  A:

  The CFS has inbuilt pre-agreed levels of non-discretionary expenditure known as ‘trigger figures’. There is a commitment from supporting creditors to the CFS principle that offers made by independent money advisers will be accepted, if expenditure falls within trigger figures and the guidelines have been followed.

• Q:Which advice software packages incorporate the CFS and the current trigger figures?

  A:

  You can access the CFS in Microsoft Excel, PETRA, PGdebt 9, IIZUKA Case Manager, Advicepro, Liquid Advice, MACS and Topaz.

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