Reset to Today

To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004.

Content Options

Content Options

Alternative versions

  1. Point in time

CONC 1.3 Guidance on financial difficulties


In CONC (unless otherwise stated in or in relation to a rule), the following matters, among others, of which a firm is aware or ought reasonably to be aware, may indicate that a customer is in financial difficulties:

  1. (1)

    consecutively failing to meet minimum repayments in relation to a credit card or store card;

  2. (2)

    adverse accurate entries on a credit file, which are not in dispute;

  3. (3)

    outstanding county court judgments for non-payment of debt;

  4. (4)

    inability to meet repayments out of disposable income or at all, for example, where there is evidence of non-payment of essential bills (such as, utility bills), the customer having to borrow further to repay existing debts, or the customer only being able to meet repayments of debts by the disposal of assets or security;

  5. (5)

    consecutively failing to meet repayments when due;

  6. (6)

    agreement to a debt management plan or other debt solution;

  7. (7)

    evidence of discussions with a firm (including a not-for-profit debt advice body) with a view to entering into a debt management plan or other debt solution or to seeking debt counselling.