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Tim Nelson reports the recent resolutions passed by the Institute of Money Advisers AGM in favour of campaigning for a #betterbreathingspace and on the forthcoming Statutory Debt Repayment Plan.
I was very pleased to note that the Institute of Money Advisers (‘IMA’) has decided to throw its weight behind the “Better Breathing Space” campaign.
The IMA, which is the only professional body representing not-for-profit debt advisers, held its AGM on Tuesday the 2nd of February and passed, with a three quarter margin of those voting, two resolutions supporting the current campaign and the wider aims of the We Are Debt Advisers group.
The first Resolution commits the IMA to:
- Actively support A Better Breathing Space and its stated aims to: extend the breathing space period and allow the adviser to determine its length. Remove the requirement for a mid-term review, which is unnecessary, intrusive and onerous for the adviser.
- Engage with partners and other stake holders to represent its members and their concerns about the operation of the scheme.
- Assist with the transmission of information about the Better Breathing Space campaign to its members, and
- Update the members on progress made within 6 months.
Having the resolution accepted, the We Are Debt Advisers campaign will be entering into discussions with the IMA to see how we can progress this collaborative working.
However, the IMA went further in acknowledging the need for grass roots campaigning to address problems that can already been seen on the horizon, such as the Statutory Debt Repayment Plan, by passing a second resolution, again by a substantive majority, that commits it to:
- Actively campaign in support of debt advice as a distinct activity.
- Engage with partners, legislators and other stakeholders to represent its members and their concerns about the operation of the scheme.
- Provide a written response to further consultation on the Statutory Debt Management Plan and such other schemes directly impacting on members that become apparent.
- Update the members on progress made within six months of this resolution being passed.
This second resolution is aimed at making sure that front-line debt advisers’ voices are heard as the Statutory Debt Repayment Plan is discussed and implemented.
We look forward to working with the IMA, and hope that “We Are Debt Advisers” will be able to help them represent their members’ concerns moving forwards.
