IVA : B.B.A. Looks For New Code Of Conduct.

The British Bankers' Association (B.B.A.) are looking for involvement from debt advisory companies to assist in developing a new code of conduct for the debt advice industry, which is hopefully going to introduced before Easter.

Lenders and Individual Voluntary Arrangement providers are in broad agreement on a code of conduct, or a voluntary set of standards, designed to bring more accurate advertising to the debt solutions industry.

The British Bankers' Association (B.B.A.) have previously voiced concerns that the Individual Voluntary Arrangements market has grown as a result of inaccurate and exaggerated advertising, leading to the potential misselling of Individual Voluntary Arrangements to vulnerable sectors of the population.

Angela Knight, a former politician and the chief executive designate of the British Bankers' Association (B.B.A.) said in an interview with Reuters:

"Is every IVA provider on board? I couldn't say. But the overwhelming majority are. After all, this is something that, if you want there to be a business in the future, it needs to be done right."

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