There are various trade bodies and groups within the world of personal finance and, if you’ve ever researched debt help online, there is a good chance you’ve come across information about the Debt Resolution Forum.
But with little online and company activity in recent years, it is unclear whether the organisation is still active and whether it is still working with companies to help debtors resolve their debts.
Nevertheless, it can still be helpful to know more about the organisation and the work they have done within the debt industry over the years, especially if you’ve worked with them or received phone calls from someone claiming to be a member.
What does the Debt Resolution Forum do?
The Debt Resolution Forum (DRF) acts as a trade body to promote the professional standards of debt management companies, charities, and other debt relief companies resolving debtors’ financial problems through debt solutions like Individual Voluntary Arrangements (IVAs) and Debt Management Plans (DMPs).
The DRF website also provides a directory to help you find a debt company that suits your financial situation and needs.
Established in 2006, the organisation is committed to promoting high professional standards and was the first of its kind to be approved for the Certificate in Debt Resolution (CertDR).
However, while it was set up to ensure other debt companies operate accordingly, it is mainly focused on the quality of advice provided and isn’t authorised to provide debt solutions to consumer debtors directly.
Is the Debt Resolution Forum still active?
While the DRF is still listed as an active company and files accounts with Companies House in the UK, the evidence points to it no longer being an actively operating organisation.
The DRF website is also still visible, but the information provided hasn’t been updated since 2016 and any associated social media accounts have either been deleted or abandoned.
Can I still become a member of the Debt Resolution Forum?
At the time of writing, there are currently 23 members listed on the DRF website, including debt solution providers, introducers, affiliates, creditors, and charities.
However, while the DRF website appears to still welcome new member applications, it is unclear whether the organisation is still active and if applications are being reviewed.
Previously, membership was an option for Insolvency Practitioners (IPs) or companies that provided debt solutions for people struggling with their finances.
Prospective DRF members were expected to follow a process designed to ensure they have always treated customers and clients fairly and with dignity and will continue to do so as a member of the DRF.
Today, companies operating in the debt industry are still held to high professional standards with the Financial Conduct Authority (FCA) laying out similar rules these companies must follow to remain compliant and provide a service that acts in the best interests of its customers and clients.
A massive thank you
“I’d like to say a massive thank you to Carrington Dean for helping me. It feels like I have control of my life again.”
How do I deal with nuisance calls from the Debt Resolution Forum?
Due to the often exploitative nature of the debt industry, scams are common. However, being contacted by someone claiming to be from the DRF or any other debt-related organisation can be scary, especially if you’re currently dealing with debt or actively making payments towards a debt solution.
The DRF website addressed the frequency of these scams in a post on their website, warning customers to be wary of phone calls or text messages from people claiming to have obtained their personal details from the DRF:
Debt Resolution Forum have received a number of enquiries from members of the public who have received nuisance calls from companies claiming to have obtained personal details from DRF. This is never the case: DRF does not hold any private individual’s personal data. If we did we would never provide it to any third party. DRF is a trade association who promote standards for our members focusing on the quality of debt advice provided to customers.
As a result, you must be vigilant and assert your rights if you’re contacted by someone claiming to be from the DRF or that they obtained your personal details from the DRF.
Even if the number seems legitimate, there is likely to be some form of fraudulent activity involved and you should be wary before disclosing details of your financial situation over the phone.
Alternatively, you can file a complaint against the DRF by sending an email to [email protected].
How can I avoid debt collection scams?
DRF is just one of the many debt companies and bodies targeted by scammers to trick consumers into parting with sensitive information or, in worst-case scenarios, their hard-earned cash.
However, there are some key steps you can take to spot a scam before its too late and protect yourself from fraud:
Request proof
Being contacted by someone claiming to be from a debt company can be daunting, and it can be tempting to panic in the moment and hand over the information or cash they are demanding. However, you should always request proof that you owe the debt, even if it sounds like a legitimate company.
Keep a record of your debts
Keeping a detailed record of your debts can prevent situations where you don’t know whether you owe the debt or make payments you don’t even owe.
Knowing which of your debts are resolved and which are unpaid can help you know immediately if someone is being truthful or attempting to scam you.
Review your credit report
Regularly reviewing your credit report can be useful in letting you know the status of your past and current debts.
However, it is worth noting that your credit report may not show everything and a creditor or debt collection agency may still be able to legally chase you for debts that are not listed on your credit file.
