Debt Management Protocol

dmpp-logo-colourHere at InControl, we only offer debt management plans which are compliant with the Debt Management Protocol launched in 2013 by the Department for Business Innovation & Skills which is managed by the Insolvency Service.

 

This Protocol aims to protect and promote the needs and best interests of consumers who take out debt management plans (DMPs).  In particular, it aims to ensure that consumers who choose a DMP subject to this Protocol are assured of a high standard of service that is in their best interest and is fully compliant with statutory requirements and best practice.

Any company displaying the DM Protocol badge will have passed a rigourous compliance audit carried out by the Insolvency Practitioners Association to make sure their service meets the terms of the Protocol. Our audit was completed in September 2013.

The Protocol covers various categories such as advertising and marketing, administration, staff training, fees, monitoring and data protection.

Why use a Protocol Compliant Company?

Before choosing Debt Management as a way to help your situation, we recommend reading the information sheet called “Dealing with Debt – 5 Things you should know.” Which can be found by clicking HERE.

The major creditors and debt collection companies have also signed up to the debt management protocol & as a protocol compliant provider, creditors signed up to the scheme must;

  • Provide a 30 day breathing space for our new customers
  • Suspend all collection activity for 30 days
  • Freeze interest and charges OR explain why they have not frozen interest and charges
  • Your creditors are paid from the first month
  • Respond to our requests for information within 10 days

So if you are considering debt management as an option, we would recommend using a company who have signed up to the Debt Management Protocol.

Alongside our membership of the Debt Resolution Forum, we are proud to display the DM Protocol badge.