The Chair invited the members of DISSF to volunteer as facilitators or panel members for the final panel session at these events. Item 3 AiB Business Planning – Chair provided DISSF with an update on the business planning progress to date. She indicated that the Board has already had a meeting to consider the AiB Business plan where they look at work still to be completed, the highs and the lows of which there were more highs. – members of DISSF were asked to reflect on what they would like the Financial Health Service to deliver and what it should look like. A good discussion followed and there was a lot of agreement in terms of general themes and features that should be considered and included as part of the Financial Health Service. was consensus that more research needs to be conducted. In particular relating to the causes of bankruptcy and the link to any potential preventative measures. It was, however, also mentioned that statistics are important, but that real life stories have more of an impact. number of people indicated that it should add value and that it should be outcome driven. Specific outcomes that were mentioned included a change in behaviour for example an increase in the number of people who actively save money. Other specific outcomes that were mentioned included education and rehabilitation. strongly supported view was that the Financial Health Service should be universal. It should be a product that is useful to all and not just to people who are facing financial difficulties. Due consideration of vulnerable customers was specifically mentioned in relation to this. Item 4 Register of Insolvencies – McKillop raised a concern on behalf of credit unions in relation to individuals having their names removed from the Register of Insolvencies (ROI) after discharge. He indicated that as names are no longer being published in the Edinburgh Gazette it means that there will be no record that someone may have been bankrupt. Frank also indicated that the FCA states that a credit union director may never have been bankrupt and that it would be difficult for credit unions to confirm this where no record is kept. Cook indicated that the Accountant in Bankruptcy have no option other than removing someone’s name from the ROI and that this is linked to Data Protection and a person’s right to be forgotten. John also advised that the Register of Inhibitions would assist credit unions with their checks for any potential directors.
The Chair invited the members of DISSF to volunteer as facilitators or panel members for the final panel session at these events. Item 3 – AiB Business Planning Chair provided DISSF with an update on the business planning progress to date. She indicated that the Board has already had a meeting to consider the AiB Business plan where they look at work still to be completed, the highs and the lows – of which there were more highs. members of DISSF were asked to reflect on what they would like the Financial Health Service to deliver and what it should look like. A good discussion followed and there was a lot of agreement in terms of general themes and features that should be considered and included as part of the Financial Health Service. was consensus that more research needs to be conducted. In particular relating to the causes of bankruptcy and the link to any potential preventative measures. It was, however, also mentioned that statistics are important, but that real life stories have more of an impact. number of people indicated that it should add value and that it should be outcome driven. Specific outcomes that were mentioned included a change in behaviour for example an increase in the number of people who actively save money. Other specific outcomes that were mentioned included education and rehabilitation. strongly supported view was that the Financial Health Service should be universal. It should be a product that is useful to all and not just to people who are facing financial difficulties. Due consideration of vulnerable customers was specifically mentioned in relation to this. Item 4 – Register of Insolvencies McKillop raised a concern on behalf of credit unions in relation to individuals having their names removed from the Register of Insolvencies (ROI) after discharge. He indicated that as names are no longer being published in the Edinburgh Gazette it means that there will be no record that someone may have been bankrupt. Frank also indicated that the FCA states that a credit union director may never have been bankrupt and that it would be difficult for credit unions to confirm this where no record is kept. Cook indicated that the Accountant in Bankruptcy have no option other than removing someone’s name from the ROI and that this is linked to Data Protection and a person’s right to be forgotten. John also advised that the Register of Inhibitions would assist credit unions with their checks for any potential directors.