11. Customers Interest
- Members must ensure all advice given is in the best interest of the customer.
- Members must exercise all due discretion, in the best interests of the customer, in deciding whether or not to accept a customer on to a debt management programme, and must bear in mind that debt management programmes are not suitable for all customers
- A realistic assessment of the financial circumstances of the customer must be made before advice is given. Verification of information given should be obtained from the customer.
- Members must keep in strict confidence information given to them by their customers, excepting the disclosure of relevant information with consent of the customer, to the relevant creditors as per Data Protection Act.
- Members must advise customers on the importance of prioritising debts.
- Any advice given to the customer to cancel payments to a creditor prior to a repayment plan being agreed with creditors must be in the best interests of the customer. Members must clearly warn customers of the risks and consequences of this course of action.
- Customers should not be advised to make payments lower than the amount at which interest or charges accrue, unless this is in their best interests.
- Members may accept referrals from lenders or credit brokers, provided these are done within the rules of the current Data Protection act.
- Members must ensure that upon completion or termination of a programme, members will return any original documentation. All documentation, should be retained for an appropriate period in accordance with Data Protection Guidelines.
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