Related provisions for CONC 7.14.12
1 - 5 of 5 items.
A debt repayment is deadlocked where the customer (or the customer's representative) has acknowledged the customer's liability for a debt and has proposed a repayment plan, but the proposed repayment plan is not acceptable to the firm seeking to recover the debt.[Note: annex A4 of DCG]
A firm must suspend the active pursuit of recovery of a debt from a customer for a reasonable period where the customer informs the firm that a debt counsellor or another person acting on the customer's behalf or the customer is developing a repayment plan.[Note: paragraphs 7.12 of ILG and 3.7m of DCG]
A “reasonable period” in CONC 7.3.11 R should generally be for thirty days where there is evidence of a genuine intention to develop a plan and the firm should consider extending the period for a further thirty days where there is reasonable evidence demonstrating progress to agreeing a plan.[Note: paragraphs 7.12 (box) ILG and 3.7m of DCG
CONC 6.7.24 R does not preclude the firm from: (1) making amendments pursuant to a variation clause to which the customer has previously given consent, after it was fully explained to the customer the reason for the amendment; or(2) reducing or waiving payments unilaterally, for example, under a repayment plan, provided that this is explained to the customer. [Note: paragraph 3.9miii of DCG]
A firm must not:(1) refuse to deal with a not-for-profit debt advice body, debt counsellor, debt adjuster or with another person acting on behalf of a customer, unless there is an objectively justifiable reason for doing so;[Note: paragraphs 3.9c of DCG and 3.48 of DMG](2) unless the credit agreement requires payments to be made to a third party, refuse to accept a payment tendered to the firm by the customer or by a person acting on behalf of the customer;[Note: paragraphs 3.8