Debt recovery for Lenders conference anticipated by car finance industry

The Finance & Leasing Association will hold a Debt Recovery for Lenders conference on May 18 at the Church House Conference Center in London. On the agenda is a discussion of recent changes in the legal framework relevant to FLA members and what is anticipated for the future of the car finance industry.

Debt recovery method changes like Debt Relief Orders and bankruptcy will also be discussed.

Recently, the UK government introduced the Consumer Protection and Markets Authority. It also reviewed legislation regarding consumer credit and person insolvency. These items change the form of assistance provided to those with UK car loans who encounter relevant problems.

They also alter the methods lenders may use to recover money due to them.

At the conference, the latest details regarding the Consumer Protection and Markets Authority review will be discussed. An analysis will be presented regarding where lenders stand in terms of debt recovery and developments regarding Debt Relief Orders and bankruptcy as well as alternatives like Charging Orders will be covered.

Lenders will be advised on the best way to approach mental health issues in the framework of debt recovery.

Other discussions will focus on how to use the Right of Withdrawal and the Consumer Credit Directive to recover debt. Attendees will be informed of the ways that debt recovery will be impacted by the

annual health check scheduled by the government.

Many of these topics have an impact that extends well beyond lenders to car finance holders.

Bad credit car finance is a hot topic these days and conference discussions will touch on this area. The state of the economy has left many people in difficult financial situations, negatively affecting their credit. When they are unable to repay their car loans, this has unfortunate consequences for the UK vehicle financing industry.