MSE News: Debt management firms may face regulation

cheesedoffwithdebt

quick shoot from the hip response- why don't they just regulate the Debt Collection Agencies and any other rottweilers lurking? If someone enters into a DMP then I would have thought the majority were serious about paying off those debts, within agreed parameters, where their circumstances have changed and they are unable to keep up normal repayments. If there were some mediation between the DCA's, debtors and those who run the DMP's that would surely be more positive? As far as regulation is concerned, whilst I don';t agree with companies who charge for a DMP, are we not in danger of missing the point while the MOJ tries to interfere in the commercial sector, and misses the issues faced by those who are in a DMP situation? I will actually review the paper issued and respond as there is the option to do that but I do rather fear that like any Government initiative, the people who really need help and support will get missed out while they battle over how much can be charged/whether charges should be applied etc.

grandadsmith

'Free' debt management organisations are funded by the very people (banks) who caused the debt problem via 'economic downturn' with their gambling with your money.

So you Know their BIAS is to maximize the bankers income (and drive you into poverty by taking every last penny they can )

The bankers caused the debt via multiple redundancies and lack of jobs through their gambling.
Ref
Alistair Darling
Chancellor of the Exchequer
'it wasn't them [the bankers] that suffered it was everybody else because the world economy plunged into a recession'
http://news.bbc.co.uk/1/hi/business/8271102.stm