APDSI and MALG join forces

Friday 20th April 2012

The Association of Professional Debt Solution Intermediaries (APDSI) has announced its membership of the Money Advice Liaison Group (MALG).

MALG is a non-policy making discussion Forum formed in 1987. It has 56 national organisations in membership. These comprise mainly trade bodies and I
institutes, credit reference agencies and regulators within the credit and debt sector. Its aims and objectives are to facilitate, organise and promote better communications, best practices, understanding and professionalism among national organisations concerned with consumer credit and personal debt within the United Kingdom.

It supports six local fora throughout the UK with similar aims and objectives. It also facilitates the resolution of differences and the exchange of views between members.

Alasdair Warwood, Secretary General of APDSI, commented: "We are very pleased to be joining MALG. At this time of significant regulatory change - publication of the OFT's revised Debt Management Guidance, transfer of the OFT's consumer credit powers to the new Financial Conduct Authority (FCA),the publication of the House of Commons BIS Committee report - Business, Innovation and Skills Committee - Fourteenth Report - Debt Management and discussions on a Debt Management Protocol - it is important that all sectors with a stake in the debt management sector are represented in any discussions on the future of that sector - regulators, creditors, consumer representatives, debt solution providers from both free and fee-charging sectors and intermediaries.

“Only thus can any changes which come out of these various regulatory strands be balanced and rounded and, most importantly, properly serve the needs of the most vulnerable constituency - consumers in debt, many through no fault of their own."

Anthony Sharp, who co-founded the Forum and has been Chair for 25 years, spoke to DMT about how the two organisations can work together to raise standards and inspire change within the industry. He said: “To be a member of MALG without doubt conveys a certain good practice status to the industry; it is like a badge. Mutual understanding and communication, two of the hallmarks of MALG, should assist both APDSI and the wider industry to understand and work through together the various challenges that each face and those that the industry as a whole come up against.

“Together it should be possible to sort the wheat from the chaff within the brokerage and introducer sector and thus enable this sector to move forward towards good practice. There are a number of myths hanging over the introducer and lead generator sector and APDSI should be able assist the industry in general to better understand this particular sector and together with other MALG members strengthen their fight against abusive practices that do exist in this area.”

He continued, “The introducer sector of the industry. Which APDSI covers, is a difficult and somewhat controversial area of business. I believe APDSI will be able to inform MALG of the workings of this sector, help it to understand the difficulties and gain from MALG a fuller understanding of the general view of the other parts of the industry to this sector. All this should assist APDSI to continue down its path of improving practices with more confidence and support. The networking value of MALG is enormous and this works both ways.”