Oral question asked in the House of Lords, by Lord Razzall (Liberal Democrat). It was answered on Wednesday, 24 October 2007.

Debt: Consumer Credit

Question: My Lords, does the Minister accept that, notwithstanding recent consumer legislation, unsolicited credit card applications still remain a problem?

Answer: My Lords, much is being done: we have reformed the regulations governing consumer credit advertising to make these clearer and fairer. We have also introduced pre-contract information to help consumers to make an informed choice before entering into a credit agreement. The implementation of the Consumer Credit Act 2006 will give increased powers to the Office of Fair Trading to safeguard the interests of consumers. Beyond that, £11.5 million is being spent on a package of support for schools to teach children financial skills.

Secondary information

Type: Oral question
Reference: 695 c1071,1202
Session: 2006-07
Oral question type: Supplementary
Chamber / Committee: House of Lords chamber
Notes: Question originally not printed in Daily Part due to a technical problem. Full question and answer printed as a correction on 25 October 2007 at 695 c1202. Question text further amended in online version of Hansard on 24 October at 695 c1071
Subjects: Consumers Debts Credit Financial services
Link: View this Oral question on www.publications.parliament.uk