Document Corporate Debt Policy

The proposed changes aimed to provide an efficient and cohesive approach to recovering debts.  The ethical considerations, in particular an individual only having one point of contact regarding their debts, was an important element of the proposal.  A single point of contact also made assessing an individual’s eligibility to receive certain benefits or other support, with a view to alleviating some of the financial pressures that they were experiencing, more practical.

Where debt recovery was required, the use of a credit reference agency made assessing an individual’s ability to make payments towards their debt more effective.

It was resolved that the Corporate Debt and Financial Inclusion Policy be agreed.