IPA plans to regualte debt advisers

Plans have been drawn up by the Insolvency Practitioners Association to
regulate the growing debt management industry.

The proposals involve accrediting debt management advisers working in an
industry that has seen growth due to rising levels of debt among individuals.

But IPA chief executive Nick Sabin believes the association only has a few
months to persuade the government of the scheme’s benefits, before it becomes to
costly too continue lobbying.

Tony Supperstone, new president of R3, the professional body for business
recovery experts, said the level of debt among individuals was a ‘big concern,’
and the body would look to ‘educate people’ about their own finances.

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