Consumer Credit Protection

EDM number 1031 in 2004-05, proposed by Peter L Pike on 06/04/2005.

That this House regrets that there has been insufficient time in the present Parliament to complete consideration of new legislation concerning consumer credit; believes that companies like Clydesdale Financial Services fail to deal sympathetically with customers that fall into difficulties with repayments and that charges and interest rates can exceed the actual basic monthly repayments; notes that such charges mean that one Burnley constituent's loan of ú602 in 1999 has now doubled to over ú1,200 and is continuing to increase monthly; further believes that this example is just one of many across the country; and urges the next Government to bring forward legislation speedily in the new Parliament to give consumers a fair deal.

This motion has been signed by a total of 1 MPs.