Credit purchases form a large part of sales by federation members. While members extend credit in a responsible manner, there is concern that rising food, transport and utility costs are shrinking consumers’ disposable income and increasing levels of household indebtedness. While home, vehicle and furniture debt far exceeds that owing on clothing accounts, federation members believe initiatives to help consumers manage life’s circumstances better deserve full support. The federation is accordingly discussing education initiatives with organisations representing the interests of both consumers and of financial services businesses.
Federation members favour pro-active rehabilitation of errant account-holders and helping where possible to make life easier for them. This builds on an approach to consumer welfare that has its roots in long-standing policies for a refund or replacement of defective merchandise or for exchange of merchandise found unsuitable in styling and fit.
If you’re struggling with repayment of an account to a federation member, please refer to the contact details provided on your statement and approach the retailer.