Anthony Sharp of Anthony Sharp Associates

We sat down with Anthony Sharp, of Anthony Sharp Associates, to discuss consulting, all things MALG and the reasons behind indebtedness...

Could you tell us a bit about Anthony Sharp Associates?

Anthony Sharp Associates is a consultancy firm which I set up in 1999 within the consumer credit industry and which mainly focuses on compliance and technical matters and training.

When did you set up the company?

I set up Anthony Sharp Associates in October 1999.
 

You’re also involved with the Money Advice Liaison Group (MALG) – what is the aim of the organisation?

MALG is a non-policy discussion forum whose purpose is to promote good communication, understanding and good practice between creditors, debt collection companies, enforcement agencies and debt advisers.
 

How did you get involved with the Money Advice Liaison Group?

With two other visionaries in the industry I founded MALG in 1987. We were in the middle of another consumer credit boom, heading for the recession of the early 90s. Very few creditors or debt advisers communicated with each other, and in fact the two parties generally loathed each other. The individual in serious debt was the person who suffered and was very much the ‘pig in the middle’. We believed that that we could make a difference if we could get all sides talking and understanding. So MALG was born as a very small acorn. Today it has grown into a very large oak tree having some 54 national organisations (trade bodies and institutes) who are members of National MALG, including six regulators and I am proud indeed to have been its Chair for now 24 years. 

MALG has also spawned six Regional Fora whose members are more likely to be individual organisations and companies than trade bodies.
 

How do you see the organisation changing or growing over the next year?

I believe MALG will continue to increase its membership, both within the Regional Fora as well as in National MALG; especially because there are always new trade bodies in the industry to be considered for National MALG membership and more creditors and advisers, free and fee, who hear of the Regional Fora and want to join. There are also new sectors in the industry that we must ensure we take notice of. 

I see MALG continuing to be involved with mental health and debt issues (as we have been for the past six or seven years). We are currently in the process of creating a creditor version of The Debt and Mental Health Evidence Form (DMHEF), which hopefully will be available by the middle of 2012. We aim to produce one Form which can be used by advisers (fee or free) and creditors. 

MALG will continue to assist with liaison and understanding in the continuing debt crisis – we don’t make policies because we are only a discussion forum but our discussions can and do influence decisions made.
 

What is MALG’s vision for the debt industry?

Our vision has always been to work towards the rehabilitation of the genuine debtor in financial difficulties through better understanding and liaison. This is the common goal between creditors and debt advisers- the rehabilitation of the debtor. This can be achieved.
 

How do you think the industry has changed in the aftermath of the economic crisis?

There is very little lending of much worth out there at the moment as we know.  

Difficult financial times can make some (not all) creditors less understanding and more assertive. This needs to be carefully monitored and tackled through better knowledge, as well as regulation. 

There continues to be an amount of consolidation in the marketplace and a particular uncertainty with regard to what the government intends to do about regulation. Will the FSA, OFT and the Consumer Credit Act disappear in a puff of smoke? We hope that the government will take notice of the strong feelings.

What did you do before you began working at ASA?

I was in practice as a collections manager and credit controller in the Consumer credit sector for 12 years and then in 1986 I was appointed Deputy Director of the Consumer Credit Trade Association, a position I held until I left to form my own company in 1999.

What are the best and worst parts about your job?  

Together with my income earning work with my own company, I also act on a pro-bono basis for MALG and The Civil Court Users Association. I think the best part is knowing that the organisation one works for is having a small influence in improving good practice within the industry. 

I also find my involvement with debt and mental health is immensely satisfying.  

The worst thing is having to deal with politics – both company and party – because both can be an impediment to progress.

What, in your experience, are some of the most common reasons for people becoming indebted?

Today unemployment must head up this list and linked to this, over-commitment. A better control of personal finance is so badly needed. Finally changes in circumstances remain high on this same list. There is nothing new about these three causes but perhaps interestingly the debt crisis has simply changed the position of chess pieces on the board.