Debt Management Fees

EDM number 874 in 2010-12, proposed by Clive Betts on 21/10/2010.
Categorised under the topics of Financial services and Loans.

That this House deplores as extremely damaging the poor practices engaged in by a number of debt management companies that charge fees of their customers, a practice uncovered by the Office of Fair Trading as part of the compliance review it conducted around its Debt Management Guidance; supports those demanding that the current system of self-regulation operating in that sector, which has palpably failed, be replaced by a statutory regime; and calls on the Government to bring forward the legislation necessary to introduce such a regulatory framework at the very earliest opportunity.

This motion has been signed by a total of 45 MPs, 2 of these signatures have been withdrawn.