TCF Policy

At Simple Financial Solutions Ltd (SFS), we are committed to providing our customers with the highest possible level of customer service and when we fail to do so, we will make every effort to learn from our mistakes to improve our level of service.


To allow us to do this, we are committed to ensuring all of our customers are treated fairly and that their interests are put at the forefront of how we run our business.  The following FCA outcomes of Treating Customers Fairly (TCF) are central to our approach:


  • Outcome 1: Consumers can be confident that they are dealing with firms where the fair treatment of customers is central to the corporate culture.
  • Outcome 2: Products and services marketed and sold in the retail market are designed to meet the needs of identified consumer groups and are targeted accordingly.
  • Outcome 3: Consumers are provided with clear information and are kept appropriately informed before, during and after the point of sale.
  • Outcome 4: Where consumers receive advice, the advice is suitable and takes account of their circumstances.
  • Outcome 5: Consumers are provided with products that perform as firms have led them to expect, and the associated service is of an acceptable standard and as they have been led to expect.
  • Outcome 6: Consumers do not face unreasonable post-sale barriers imposed by firms to change product, switch provider, submit a claim or make a complaint.

To fulfil these outcomes we will do the following, this list is not exhaustive:

  • Communicate clearly and regularly with our customers.
  • Provide advice that is consistent and appropriate given each customer’s individual circumstances.
  • Provide documentation that supports our advice and is easily understood by our customers.
  • Complete customer feedback questionnaires and learn from the feedback provided whether it is good or bad.
  • Produce relevant management information and use it to improve our level of customer service and to ensure all customers are treated fairly.
  • Ensure all employees are provided with sufficient training and knowledge to enable our customers to be treated fairly throughout their involvement with SFS.

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Write Off Unaffordable Debts

In most circumstances an award of Bankruptcy will allow you to write off most of what you cannot afford to repay, i.e. liabilties such as unsecured loans and credit card debts will be dealt with by your Trustee. Note: There are some debts that cannot be written off. Click here* for more information on the limitations.
 

Free From Debt Pressures

Unlike a Trust Deed Scotland, Sequestration can make you totally free from provable debts, although you will have to make a contribution from your income for 3 years if you can afford to. Your Trustee takes over dealing with your creditors and you will be totally debt free subject to some limitations depending on your circumstances.
 

Government Legislation

A Sequestration is under the control of the Scottish Government and is intended to help people who are struggling wither finances. An award of Bankruptcy is not a debt management plan or IVA, meaning there are no regular monthly repayments to make, if you have no surplus income after meeting your normal monthly outgoings.

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