Code of Conduct.

All members must produce their Consumer Credit and Data Protection licences upon joining and confirm ongoing compliances annually.

Members must always act in the best interests of their clients and advise the best solution for the client.

In those cases where Debt Management is the only solution, members must comply strictly with the Office of Fair Trading Publication, 366 02/12/01.

The main points from this document are as follows and all members must abide with its requirements both in spirit and in letter:


Consumers must be given adequate information before entering into the agreement. Contracts should specify the nature of the services provided, total cost to the consumer, amount to be repaid and duration of the contract. Contract terms should be fair, legible and in plain language.
A realistic assesment of the customer's financial circumstances must be made before advice is given, including verification of income and regular outgoings, and any advice must be in the interest of consumers.
Debt Management companies must inform creditors of the outcome of negotiations with creditors, as well as any developments with the creditors such as the isuue of default notices or the threat of legislation.
Advertisements and marketing must be accurate, clear and not misleading. Any reference to "savings" on repayments must make clear that debt rescheduling will usually lead to an increase in the size of the sum to be repaid and potentially affect the consumers credit record.
No cold calling by personal visit.
Payments from consumers should normally be passed on to creditors within 5 working days of receipt of cleared funds.
In addition to these guidelines:

AEDA members must offer free initial advice to all callers, or pass on details of someone else who can help, such as the National Debtline, 0808 808 4000.
All callers are to be treated with sympathy and consideration. with this in view, all AEDA members must ensure their advisers are thoroughly trained.
All clients money must be kept in a separate ring fenced account and an annual certificate from a chartered accountant must be provided to AEDA.

Complaints.

Any complaint against a member will be thotoughly investigated and the decision of AEDA will be final.

Should the member refuse to comply, membership will be withdrawn.

All complaints must be made in writing to:
AEDA
78 York Street
London
W1H 1DD

To join AEDA, contact us as above.