Lesson 1, Topic 1
In Progress

2.1. Code of Conduct.

ryanrori January 21, 2021

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Being a professional registered debt collector, I will adhere to the Code of Conduct as specified by the Council for Debt Collectors Act.

Below is an extract from the justified rules as stipulated by the Council:

“All the transactions and actions of a debt collector in the process of administering and collecting debts shall at all times be just, fair and honest. In the course of administering or collecting a debt, a debt collector shall not deliberately lie about, or misrepresent any fact, truth, instruction or mandate in any way, with the intention of benefiting such a debt collector or his or her employer or principal at the cost or expense of a debtor, a creditor, or any member of the public.

A debt collector shall at all times respect the confidentiality and privacy of any information supplied by a debtor and shall be factual, truthful and tactful in using such information”

Debt Collection Practice

It would be damaging to the status and standing of the registered persons concerned, and the financial industry in general, if registered persons were seen to be employing debt collection agencies which use inappropriate means to recover debts. In view of this, the following guidelines have been set to be implemented with immediate effect for all registered persons who use debt collection agencies.

  1. Registered persons should take adequate steps to monitor and control the manner of operation of the debt collection agencies employed by them.
  2. Registered persons should not pass information about referees or third parties other than debtors or guarantors to their debt collection agencies.
  3. Registered persons and their debt collection agencies should not cause public embarrassment, humiliation, anxiety or distress to the person, members of his family or any other person in the course of recovering debts, such as putting up debt notices or approaching debtor at his workplaces.
  4. Registered persons and their debt collection agencies should not try to recover debt from persons other than debtors and their guarantors, including referees, family members or friends of the persons concerned who have not entered into a formal contractual agreement with the registered persons to guarantee liabilities of the debtors.
  5. A debt collector should not resort to violence or use any intimidating or illegal means in connection with the collection of any debt.