News Article

Consumer Credit

Consumer vulnerability a key focus at inaugural Harrington Brooks Creditor Conference

By CreditMan Monday, April 25, 2016

Harrington Brooks brought the creditor community together in March for a new innovative conference aimed at collaborating to find solutions on how to improve best practice in the debt management and personal insolvency sector.

The delicate topic of consumer vulnerability proved to be one of the most thought-provoking issues that was discussed on the day, with many of the speakers talking at length on what could be done to help those in debt spirals.

Those presenting included Barclaycard, Lloyds Banking Group, RBS, Citizens Advice, Money Advice Scotland, Marston Holdings, Scottish Power, Arrow Global, and DEMSA, the debt management trade body.

Local Wythenshawe and Sale East MP Mike Kane delivered the keynote speech at the conference, where he spoke about his experiences of helping his constituents that were in debt. He argued that the creditor sector must improve the way it approaches indebtedness, and that a better and more proactive relationship is needed between debtors and creditors.

Following the event, he said: “I know from the work I have done in my constituency that personal indebtedness is still a major problem in this country.

“I believe that the consumer credit sector has a big responsibility to ensure that people who are in debt are treated fairly at what is a hugely stressful time in their lives.

“I am therefore pleased that Harrington Brooks brought together the firms who are at the coalface of this growing problem into one room to discuss how to improve standards. I look forward to working with them to take forward these solutions.”

Matt Cheetham, CEO of Harrington Brooks, who also spoke at the conference, said: “This was the first Harrington Brooks Creditor Conference and I’m pleased to say that it was a great success. I’m grateful to our partners from across the credit world that were able to join us on the day, particularly to explore ways of addressing consumer vulnerability. I look forward to taking forward many of the ideas developed at the conference in our future work.”