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445782

registered interest
date	19/01/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Debts: Advisory Services
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what assessment they have made of the case for a mandatory fee model whereby Financial Conduct Authority authorised debt management firms charge a set fee for debt management plans; and what assessment they have made of how to prevent debt management companies from making additional charges.
tabling member printed	Lord Tunnicliffe
uin	HL5192
answer	answer is ministerial correction date of answer 02/02/2016 answer text <p>The Government has fundamentally reformed the regulation of the debt management market, transferring responsibility to the Financial Conduct Authority’s (FCA) more robust regime to better protect consumers.</p><p> </p><p>Any consideration of the state of the debt management market should properly await the outcome of the FCA’s authorisation assessment of commercial debt management firms, which is expected in the coming months.</p><p> </p><p>FCA rules make it clear that fees charged for debt management plans should not undermine the customer’s ability to make significant repayments to the customer’s lenders throughout the duration of the debt management plan.</p> answering member printed Lord O'Neill of Gatley grouped question UIN HL5193 question first answered 02/02/2016 15:18:42 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	3671 label Biography information for Lord Tunnicliffe

445783

registered interest
date	19/01/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Debts: Advisory Services
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what assessment they have made of the use of (1) monthly fee debt management plans; (2) percentage fee debt management plans; and (3) a combination of set fee and percentage debt management plans.
tabling member printed	Lord Tunnicliffe
uin	HL5193
answer	answer is ministerial correction date of answer 02/02/2016 answer text <p>The Government has fundamentally reformed the regulation of the debt management market, transferring responsibility to the Financial Conduct Authority’s (FCA) more robust regime to better protect consumers.</p><p> </p><p>Any consideration of the state of the debt management market should properly await the outcome of the FCA’s authorisation assessment of commercial debt management firms, which is expected in the coming months.</p><p> </p><p>FCA rules make it clear that fees charged for debt management plans should not undermine the customer’s ability to make significant repayments to the customer’s lenders throughout the duration of the debt management plan.</p> answering member printed Lord O'Neill of Gatley grouped question UIN HL5192 question first answered 02/02/2016 15:18:42 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	3671 label Biography information for Lord Tunnicliffe

445367

registered interest
date	18/01/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Debts: Advisory Services
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government, for each year since 2010, what assessment they have made of the percentage of clients who, once they have received debt management advice and successfully proceeded to implementation, have required further debt management advice in the same financial year.
tabling member printed	Lord Tunnicliffe
uin	HL5131
answer	answer is ministerial correction date of answer 01/02/2016 answer text <p>These questions have been passed on to the Money Advice Service (MAS). MAS will reply to directly to the Noble Lord by letter. A copy of the letter will be placed in the Library of the House.</p> answering member printed Lord O'Neill of Gatley grouped question UIN HL5128 HL5129 HL5130 HL5132 question first answered 01/02/2016 16:00:04 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	3671 label Biography information for Lord Tunnicliffe

445368

registered interest
date	18/01/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Debts: Advisory Services
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what criteria they use to analyse the effectiveness of debt management advice.
tabling member printed	Lord Tunnicliffe
uin	HL5132
answer	answer is ministerial correction date of answer 01/02/2016 answer text <p>These questions have been passed on to the Money Advice Service (MAS). MAS will reply to directly to the Noble Lord by letter. A copy of the letter will be placed in the Library of the House.</p> answering member printed Lord O'Neill of Gatley grouped question UIN HL5128 HL5129 HL5130 HL5131 question first answered 01/02/2016 16:00:04 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	3671 label Biography information for Lord Tunnicliffe