London North Securities

EDM number 191 in 2002-03, proposed by Gordon Marsden on 26/11/2002.

That this House congratulates The Mirror on highlighting the case of Frank and Jeanette Sharratt of Blackpool, who borrowed ú2,240 from London North Securities in 1987, have since repaid almost ú10,000 and owe a further ú39,444; considers that claiming almost ú50,000 in total for settlement of a ú2,240 debt is inequitable and unethical; deplores the activities of London North Securities, whose directors include Mr H.J. Collis, and their representative Mr Tomlinson of Blatchfords solicitors in managing and pursuing this debt; notes that Mr and Mrs Sharratt's current debt includes ú2,937 of legal fees from Blatchfords solicitors; further notes that the case of Mr and Mrs Sharratt is not the only example of such unacceptable practice on the part of London North Securities, who are also pursuing Mrs Paulette Goldstone of Blackpool, who has already repaid over ú15,000 on a loan of ú5,600 for more than ú30,000; urges London North Securities and their representatives swiftly to make a reasonable offer in all such cases; and encourages the Office of Fair Trading to look more closely at such activity and to take robust action to deal with it.

This motion has been signed by a total of 34 MPs.