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How Field Agents can play a part in getting advice to struggling customers?. CML Arrears and Possessions Conference Thursday 9th February 2012 Midland Hotel (Manchester) Ray Hugill Chairman The Association of Arrears Mediators. Contents. The Association of Arrears Mediators

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How field agents can play a part in getting advice to struggling customers

How Field Agents can play a part in getting advice to struggling customers?

CML Arrears and Possessions Conference

Thursday 9th February 2012

Midland Hotel (Manchester)

Ray Hugill

Chairman

The Association of Arrears Mediators


Contents
Contents struggling customers?

  • The Association of Arrears Mediators

  • The role of the Field Agent

  • Are the visits successful?

  • Statistics for 2011

  • Mis-Conceptions of Field Agents

  • Holistic approach to Debt Management

  • Payplan


The association of arrears mediators
The Association of Arrears Mediators struggling customers?

  • A Trade Body for the arrears mediation sector (Field Agents/Counsellors)

  • Established in 2009

  • Members:

  • > DMS

  • > Excel

  • > NCI

  • > PDP

  • > PSP/Fieldcall

  • Create and maintain high quality professional standards and good practice

  • Provide services consistent with FSA guidelines and compliance with other regulators


The role of the field agent
The role of the Field Agent struggling customers?

  • Extension of a lender’s service proposition in the end-to-end arrears process

  • Often a conduit between the lender and the customer

  • Becomes the lender’s eyes and ears in the field

  • Provides a comprehensive breakdown of the customer’s financial situation

  • Submits a report to allow the lender to determine the best way forward

  • Intention is to try and obtain a payment proposal that clears the outstanding arrears

  • Part of the Pre-Action Protocol allowing customers to remain in their homes


Are the visits successful
Are the visits successful struggling customers?

  • Appointment numbers would indicate so

  • Between 2007 and 2011:

  • > 738862 – pre-litigation visits completed

  • > 134661 – pre-eviction visits completed

  • > 873523 – total visits completed


Statistics for 2011
Statistics for 2011 struggling customers?

  • 123131 pre-litigation visits were completed in 2011

  • > 32.59% - full fact find with an arrangement proposal

  • > 06.53% - full fact find completed with no arrangement proposal

  • > 10.94% - no contact

  • > 14.83% - visit cancelled by the lender

  • > 12.54% - assistance refused by the customer

  • > 09.58% - property empty

  • > 12.99% - property tenanted

  • Net controllable total – 77074 (62.60)%

  • Pre-litigation visits down 4.33% on 2010

  • Pre-eviction visits down 21.14% on 2010


Mis conceptions of field agents
Mis-Conceptions of Field Agents struggling customers?

  • Field Agents are not debt collectors

  • Field Agents are not mortgage brokers

  • Field agents do not give advice

  • Field agents do not enter properties unless invited in


Holistic approach to debt management
Holistic approach to Debt Management struggling customers?

  • Fees free v paying customers debate

  • Industry remains fragmented

  • Field Agents will signpost within the FSA guidance and MCOB guidelines but there are issues:

  • > Ability to cope with volumes

  • > Distrust by lenders of some agencies

  • > Choosing the best agency

  • > Bankruptcies and IVA’s perceived as a “soft option”

  • > Unrealistic expectations required of lenders to accept short payments or

    write offs.

  • > Secured v unsecured creditors

  • > Lack of knowledge of some decision makers

  • What is a debt management plan and how does it benefit lenders?


Payplan
Payplan struggling customers?

  • Initial presentation by Payplan to the Association’s Board in November

  • Potential referral of “suitable” customers

  • Field Agency firms must operate within the mandates of lenders

  • Opportunity today to look at the option further


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