KYC have developed this Arrears Policy & Procedure document to meet the standards and expectations of the FCA and to provide clear guidance and steps for FS and Consumer Credit firms dealing with accounts and customers who have fallen into arrears. Our detailed document has been expertly compiled and provides you with a clear, detailed and structured approach to arrears management. Section CONC of the FCA Handbook, is the Consumer Credit Sourcebook and deals with the rules and regulations that apply specifically to the Consumer Credit industry. Within this section is CONC 7.2, which addresses accounts in arrears and how the FCA expects firms to deal with such customers.
The FCA have strict requirements and expectations when it comes to the controls, measures and procedures for handling arrears and defaulted account and our unique, ready-to-use policy and procedure document combines our expertise in policy development and procedural structure, with our unrivalled knowledge and understanding of the regulatory requirements.