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CASHflow DMP's News Update

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  • CASHflow DMP's News Update

    CASHflow has now taken another step forward to put it on an equal foot with the Common Financial Statement I have heard this morning via e-mail from the MAT.

    Cashflow now appears in the OFT Debt Collection Guidance (Point 3.9c) and the Lending Code (point 211).

    For anyone entering into self-managed DMP's, my advice would now be to go with CASHflow rather than even trying to get offers accepted from doing their own IE Sheets.

    There is a member of the site licensed to sign off statements - contact Celestine and she'll put you in touch. Alternatively, a full list of licensed people can be found on the Cashflow site:

    CASHflow - Login
    Tags: None

  • #2
    Re: CASHflow DMP's News Update

    Originally posted by labman View Post
    CASHflow has now taken another step forward to put it on an equal foot with the Common Financial Statement I have heard this morning via e-mail from the MAT.

    Cashflow now appears in the OFT Debt Collection Guidance (Point 3.9c) and the Lending Code (point 211).

    For anyone entering into self-managed DMP's, my advice would now be to go with CASHflow rather than even trying to get offers accepted from doing their own IE Sheets.

    There is a member of the site licensed to sign off statements - contact Celestine and she'll put you in touch. Alternatively, a full list of licensed people can be found on the Cashflow site:

    CASHflow - Login
    Hi

    And point 3.9 is ? i dont seem to have it on my copy but i think it is out of date.

    Peter

    Comment


    • #3
      Re: CASHflow DMP's News Update

      The e-mail came through from Cashflow this morning, so its obviously only just been added.

      Don't know if the internet version is updated yet, but I can assure you it has been added.

      Comment


      • #4
        Re: CASHflow DMP's News Update

        Yes, it's in the updated version on the net:

        http://www.oft.gov.uk/shared_oft/bus.../OFT664Rev.pdf

        Comment


        • #5
          Re: CASHflow DMP's News Update

          Hi
          Cashflow helped me they were brilliant that was a couple of years ago now
          I might add the only crediter that did not want to know about Cashflow were CAP 1 and thats a very long story

          Comment


          • #6
            Re: CASHflow DMP's News Update

            Originally posted by labman View Post
            CASHflow has now taken another step forward to put it on an equal foot with the Common Financial Statement I have heard this morning via e-mail from the MAT.

            Cashflow now appears in the OFT Debt Collection Guidance (Point 3.9c) and the Lending Code (point 211).

            For anyone entering into self-managed DMP's, my advice would now be to go with CASHflow rather than even trying to get offers accepted from doing their own IE Sheets.

            There is a member of the site licensed to sign off statements - contact Celestine and she'll put you in touch. Alternatively, a full list of licensed people can be found on the Cashflow site:

            CASHflow - Login
            Hi

            Cashflow is a good system and under used in my opinion, very interesting and significant that it is now mentioned in the OFT guidelines, creditors and collection agencies should take note.

            As posted on another thread news on Assisted Self Help Debt Management imminent - early next week I hear

            Will keep you posted

            Comment


            • #7
              Re: CASHflow DMP's News Update

              This is the section i presume, the top one, the protction of the lower one would not apply i dont think.


              c. refusing to engage, appropriately or at all, with a third party representative, such as a debt adviser at a free advice centre or a debt management business, or with a debtor developing his own repayment plan,43 unless there is an objectively justifiable reason for doing so
              d. contacting debtors directly and bypassing their appointed representatives, without permission from the debtor or his representative, unless there is an objectively justifiable reason for doing so

              Comment


              • #8
                Re: CASHflow DMP's News Update

                Yes, and if you look at 43 at the bottom of the page, it specifically mentions Cashflow.

                I haven't looked at the Lending Code reference yet, though I know Section Nine talks a lot about the CFS, so I presume it's mentioned in with that.

                It's good news for anyone dealing with DMP's anyway, and another knock back for the institutions that put obstacles in the way for their own profiteering through interest and charges.

                Comment


                • #9
                  Re: CASHflow DMP's News Update

                  Hi

                  Prominent CAB Branch unveils new FREE online debt help tool & Assisted Self Help Debt Management Plan / Budgeting

                  http://mymoney.nedcab.org.uk

                  Early days they are saying

                  Comment


                  • #10
                    Re: CASHflow DMP's News Update

                    Early days, but I've now done five of these, and four have been 100% successful; the fifth has only been completed today, so we await the replies to repayment offers.

                    Very good indeed if you intend doing your own DMP.

                    Comment

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