About Fairlife debt
The term FairLife debt is used to refer to debt that has been created by a FairLife product or by a firm that supports the FairLife initiative.
The FairLife Mark confers certain benefits on the holders of the debt in the event that they enter repayment difficulties. Where FairLife debt is sold or passed on, it is incumbent on the vendor or creditor to inform the recipient that it is FairLife debt and to ensure that the following protections are guaranteed.
The recipient must:
a. Inform the customer that they can get free debt advice.
b. Add nothing by way of interest, fees and costs to customers’ in debt recovery (with the exception of court fees and costs).
c. Where applicable, treat non-FCA-regulated debt in the same manner as FCA regulated debt.
d. Include these instructions as part of the transaction if the debt is sold or passed on (unless passed to a FairLife debt recovery firm).
Criteria d can be achieved easily by passing the debt to a FairLife debt recovery firm
The Fairlife Charity wishes to emphasise that debts must be repaid to prevent actions that can damage your credit history.