Churchwood Financial Ltd has been accepted as a member of the Debt Managers Standards Association (DEMSA).

The code of practice that all DEMSA members sign up to has been approved by the Office of Fair Trading (OFT) and goes beyond the basic legal requirements to protect consumers’ interests. It is also the only such scheme in the UK that has OFT accreditation.

Paul Naden, Chief Executive Officer at the company, comments: “This is a fantastic achievement for Churchwood Financial and is the highest accolade in compliance a debt management company can achieve.”

“Compliance is critical to the future of our business and over the last 18 months we have invested a substantial amount of time and money to help improve our internal processes, monitoring capabilities and marketing materials. Those in need of debt management advice can come to Churchwood Financial and be assured of a high-quality, transparent and professional service that puts their best interests at heart.”

Among the steps that the firm has taken are extending and strengthening its compliance team – as well as appointing Michael Pollard as compliance director – and establishing a dedicated quality monitoring team to ensure that high standards of customer care and accuracy are maintained and recorded.

Mr Pollard states: “Our acceptance by DEMSA is a tribute to all the hard work, commitment, integrity and teamwork demonstrated by our staff. I would particularly like to thank the compliance team for their efforts and am proud of this achievement,” adding “DEMSA approval will benefit all our customers, as well as the company.”

Mr Naden echoed his sentiments, noting that the financial well-being of its clients has always been a top priority.

“We have always endeavoured to provide the best possible service to those in need of assistance regarding debt. Our DEMSA membership only serves to highlight our commitment to helping people follow the road to a debt-free future,” he says.

Churchwood Financial is already a member of the Debt Resolution Forum (DRF), an association designed to promote professional standards within the debt management industry.

The DEMSA and DRF Codes of Conduct are designed to ensure the fair treatment of customers. All members’ advertisements should be accurate and truthful, members should provide clear upfront information to clients, offer comprehensible and fair contractual terms and ensure that any deposits or prepayments taken from customers are securely processed and protected.

In addition, DEMSA and DRF members must comply fully with the Office of Fair Trading’s debt management guidance and provide a user-friendly procedure for consumers to register complaints.

Via EPR Network
More Financial press releases