Debt Recovery

EDM number 1102 in 1999-00, proposed by Mike Hancock on 31/10/2000.

That this House denounces the unacceptable tactics used by lenders, specifically Abbey National Bank, to try to force settlements on debts which they will not properly substantiate; notes that such tactics breach the Mortgage Code, while lenders are not being held to account; condemns mortgage shortfall debt recovery by lenders such as Abbey National Bank many years after repossession; and therefore calls upon the Government to take the necessary steps to ensure borrowers are given the protection they deserve from lenders intent on maximising their profits at any expense.

This motion has been signed by a total of 38 MPs.