What does the Money Advice Liaison Group (MALG) Mental Health Guidelines say about the CFS?
MALG is a forum promoting better communication, best practice, understanding and professionalism amongst organisations concerned with consumer credit. This includes debt, money advice, debt collection and related matters. MALG’s voluntary Mental Health Guidelines outline what constitutes good practice in the treatment of individuals with debt and mental health problems. They also cover best practice in the management of debt when a consumer is already in financial difficulties. Section 14 of the guidelines states: “Advisers should, ideally, be encouraged to use the Money Advice Trust/British Bankers’ Association Common Financial Statement (CFS), or a statement format that conforms to the general principles of the CFS, when they prepare financial information in support of client repayment offers or other forms of negotiation”. For more information please view the MALG Mental Health Guidelines.
