Loan Consolidation Companies
EDM number 60 in 2001-02, proposed by Paul Flynn on 02/07/2001.
That this House deplores the misleading television advertisements of loan consolidation companies who promise debt relief by combining debts into a single management payment; notes that they increase, usually by more than 15 per cent., the total debts of their clients and lengthen the period of indebtedness; and urges restrictions on their misleading claims and a wider understanding of the similar services provided at no charge by the Citizens Advice Bureau.
This motion has been signed by a total of 50 MPs.
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