|Type of consultation||Other|
|Deadline for comments||30/06/2020|
About the consultation
The Government of Jersey is consulting on guidance for consumers who have or are considering borrowing, as well as the providers of credit and related services during Covid-19. This includes:
- lending to consumers
- loan brokerage or referral
- debt counselling
- debt collection
The guidance, from Connétable Richard Buchanan, Assistant Minister for External Relations with responsibility for financial services, outlines appropriate steps that businesses and their customers should take when people are facing financial difficulty.
The Assistant Minister for External Relations, said:
“The impact of Covid-19 makes it more important than ever for credit providers to work with customers who are facing financial difficulties. It has been reassuring to see that many businesses providing credit have publicised the measures that they will take to support Islanders. This assures those facing financial difficulties that support is available, and that talking to the business should be the best way to make sure that a sensible payment plan can be agreed.
This draft guidance outlines appropriate steps that both consumers and businesses can take to ensure that those facing financial difficulty are supported. It builds on the market standards that have emerged as well as Jersey laws and voluntary codes.
I encourage those with views to provide feedback, which I will consider before finalising the guidance. How the market responds will be considered with a view to developing formal regulation of the credit sector.”
How to submit comments to the consultation
You can submit your comments by email before Tuesday 30 June.
Email James Roberts