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Debt Recovery

The Fairlife Pledge

The fair trading mark represents a pledge to price honestly and trade fairly with your customers.  Any product or service displaying the FairLife Mark must be fairly traded and honestly priced in a way that is business practical:

  1. The provider must follow the spirit as well as the letter of any agreed regulator’s rules and principles with an emphasis on treating customers fairly.

  2. The provider must adhere to agreed sources of profit as detailed in the PANA criteria below.  Any extra fees or charges must be designed only to cover additional costs and not to generate additional profits.


In essence you agree to embrace good practice within the constraints of the market and to avoid poor practice which although legal is considered avoidable on a voluntary basis by your peers.  Nothing in the FairLife initiative should put you at a commercial disadvantage.

To download a summary of the Debt Recovery Mark CLICK HERE

Criteria For Debt Recovery

PANA criteria for debt recovery firms to display the FairLife Mark

PANA stands for Peer Agreed and Nationally Approved meaning that the criteria have been agreed by a peer group of providers and approved by the FairLife Charity.  The resulting standards combine fairness to the public with business practicality.  PANA criteria evidence that FairLife-marked products and services meet the FairLife Pledge.

1.    Providers must follow the CSA code of practice.
2.    The provider must not increase the customer’s debt burden.
The value of the debt owed by the customer must be frozen; the cost of collection either being covered by the creditor or accounted for when the debt is purchased.
3.    All debt types should be treated in a consistent manner.
Unregulated debt should be collected in a manner consistent with regulated debt from the perspective of treating customers fairly and delivering appropriate outcomes.  This does not alter the debt’s legal status or the provider’s ability to collect it.
4.    Customers must be protected when debt is sold or passed on.
If passing on or selling FairLife Debt within the UK adherence to these criteria must be included as part of the transaction.  This is achieved automatically if the debt is passed to a FairLife debt recovery firm.  If passing on or selling FairLife Debt outside of the UK adherence to criterion 2 must be included as part of the transaction.

If peer agreement can be secured in the future the charity will seek to introduce standardised terminology.  This will build public trust and help FairLife Schools, colleges and universities to teach financial education.

Individuals being dealt with by debt recovery firms often fall into one of two categories: can’t pay or won’t pay.  The charity’s criteria focus on helping the former, whilst not assisting the latter to avoid their responsibilities.  The criteria need apply only to customers that are UK resident.

The FairLife Mark is a mark of integrity that can be awarded based on the provider’s own declarations.  The organisation may cease using the mark and cancel their commitment at any time.

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