PSP/Fieldcall resigns from the Association of Arrears Mediators

The Association of Arrears Mediators (AAM) is a trade association which was set up in December 2009 representing five major field agencies helping UK borrowers in arrears.

But the number of members has now gone down to four following the resignation of PSP/Fieldcall citing that it was “increasingly at odds with other AAM members seeking to maintain pricing for servicing to protect their business models”.

Ray Hugill, chairman of AAM, commented: “The pricing of services provided by field agents to their clients is a sensitive subject which is driven by the individual commercial contracts that those agents hold with their lender clients.

“Whilst generic pricing and costs are included for discussion at the AAM board meetings, individual pricing models cannot be discussed as this may breach anti-competitive legislation.

“However, the AAM wishes to stress that our core objective remains to provide a quality service for a fair price – an objective that we believe is best obtained by the combined use of technology and quality control teams adding value to our client’s businesses.”