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The Insolvency Panel launches credit reporting service for debt management clients powered by TransUnion
The Insolvency Panel has announced a new partnership with credit referencing agency TransUnion (formerly Callcredit) that will allow its clients access to credit reporting information for the first time. The detailed data available from TransUnion will be a valuable resource to those seeking debt management and insolvency counsel.
The Insolvency Panel is an industry group which brings together insolvency practitioners, charities and other organisations to help those who need impartial advice on debt management. Integrating detailed credit reporting into the services already offered by the panel means the advisers will have more nuanced, contextualised and relevant insight into each unique financial situation, and consequently, be better equipped to chart a productive path forward.
Once a consumer consents to their information being accessed, The Insolvency Panel’s members (including debt-based charities and organisations such as Advice UK members and local Citizens Advice Bureaux) can use the insight available to provide detailed debt advice, as needed.
Commenting on the partnership, Kelli Fielding, managing director of Consumer Interactive at TransUnion UK said: “We’re really pleased to partner with The Insolvency Panel on this new credit reporting service, which will enable consumers to provide the relevant member organisations – such as debt advice charities – with direct access to their credit file. This will help advisers to provide a more efficient, tailored service, whilst also making the process easier at what can be a very stressful time for those in vulnerable circumstances.”
Louise Yates, CEO at The Insolvency Panel, said: “Our members dedicate themselves to helping people manage debt burdens and create structured plans to ensure they can live their lives well, whilst meeting their obligations. Being able to utilise the detailed information available from TransUnion will help to create a comprehensive picture of each financial situation, so that our members can guide their clients through difficult times.”
The service is now available and forms part of the debt advice service accessible via https://tipiva.org.uk/.
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