Proceeding contribution from Anne Snelgrove (Labour) in the House of Commons on Thursday, 9 June 2005. It occurred during Debate on bill on Consumer Credit Bill.
Consumer Credit Bill
Has my hon. Friend considered outlawing the unfair order of payment on credit cards? That is a problem in my constituency and many others when constituents with 0 per cent. credit cards do not know that the cheapest debt is paid off first. They can therefore rack up extra debts without realising it. That has led to credit card providers making an estimated £500 million extra profit a year. In my constituency, the average debt for those who ask for help with debt is £35,000, so I hope that my hon. Friend will look into the matter.
Secondary information
- Type
- Proceeding contribution
- Reference
- 434 c1413
- Session
- 2005-06
- Chamber / Committee
- House of Commons chamber
- Subjects
- Disclosure of information Consumers Appeals Debts Cheques Credit agreements Credit Credit cards Licensing Instalment credit Interest rates Low incomes Powers of entry Protection Loans Office of Fair Trading Money lenders Regulation Unfair practices Personal loans Financial Ombudsman Service Mediation
- Legislation
- Consumer Credit Bill 2005-06
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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- 2024-01-26 18:41:57 +0000
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