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Arrears support service for lenders shortlisted for credit industry accolade.

Payplan’s Arrears Management Assistance (AMA)

Payplan’s Arrears Management Assistance (AMA) service has been shortlisted in the category of Money Advice Initiative at an awards ceremony honouring key achievements in the credit industry and related organisations.

Free debt solutions service, Payplan, set up the Arrears Management Assistance (AMA) offering in January 2009 to provide specialist support to mortgage lenders with customers who are suffering financial hardship and cannot meet their mortgage payments alongside their other financial commitments.

By working with lenders and encouraging their customers to seek early, independent free debt advice, AMA is able to provide sustainable and affordable repayment strategies for mortgage arrears while offering the customer clear, step-by-step advice and solutions to help them keep their home.

Treating Customers Fairly (TCF)

The service assists lenders in meeting their TCF requirements and has enabled some lenders to develop a value added service to their forbearance policies and processes. AMA is currently working alongside a number of mortgage lenders, including GE Money Home Lending and Yorkshire Building Society.

Phil Bushell, Manager of AMA, said:

“We are thrilled to have been recognised by the credit industry for the work we are doing to tackle the problem of mortgage arrears. Part of the service’s innovation lies in the fact that it aims to change the thinking on tackling mortgage arrears, by looking at the whole of the customer’s financial situation rather than just focusing on the secured commitments. With Payplan’s long history of helping people resolve their debt problems, we are well placed to offer this support to lenders.”

Kellie Evans, from GE Money Home Lending, said:

“Payplan provides a valuable service for customers that require support and guidance. The feedback from our customers that have engaged with Payplan has been extremely positive and we are delighted the company has been shortlisted for such a prestigious award. GE values its relationship with Payplan and is committed to delivering the best service possible to customers.”

Now in its 11th year, the Credit Today awards ceremony is set to take place on 13th May 2010 at the Grosvenor House Hotel, London. The Money Advice Initiative is a brand new category at this year’s awards.

About Payplan

Payplan is a free debt advice and solutions service that provides impartial advice to people in financial distress. Payplan helps over 100,000 people every year and works closely with organisations in the field of money advice and consumer and employee welfare.

Payplan Press Office

For further information please contact:

Jane Jenkins,
Payplan PR Manager
Email: jane.jenkins@payplan.com
Telephone: 01476 581 279

Written by on April 12th, 2010

Filed Under  Debt News, Financial News, mortgages, Payplan Press Releases   |  Trackback  |   Leave a Comment

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