Thursday, July 9, 2009

Debt Collectors Act - Update

My previous post, Debt Collectors Act dated the 29th June 2009 refers.

I had a very encouraging meeting with Clive Ashpol from the Estate Agents Affairs Board (EAAB) on Monday regarding the EAAB’s position in terms of the Council of Debt Collectors finding that managing agents and estate agents need to be registered with the Council of Debt Collectors in order to collect arrear levy or rent.

In summary the EAAB falls under the Department of Trade and Industry (DTI) and the Council of Debt Collectors falls under the Ministry of Justice.

The EAAB are taking this issue very seriously. And together with the DTI, TPN, NAMA (National Association of Managing Agents) and JHI (representing the commercial property managers) we intend lobbying the Ministry of Justice for an exemption for estate agents and managing agents from the Debt Collectors Act.

Estate agents and managing agents are already regulated by the EAAB and the Estate Agents Affairs Act, have a code of conduct and have trust accounts. The Estate Agents Affairs Act is currently being re-drafted and the intention is to include a section on debt collection here.

We (EAAB, DTI, TPN, NAMA, & JHI) intend meeting in the next 2 weeks to plan away forward.

TPN will be the voice for our members and I would greatly appreciate any input from you. As always will keep you up to date with future developments.

For your reference, please see the links below:

·
Press Release

·
Finding by the Council of Debt Collectors

·
Preliminary legal opinion

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