Citizens Advice calls for stronger credit regulation

Citizens Advice has called for regulation of the consumer credit sector to be strengthened in its latest manifesto, entitled No one left behind.

The organisation outlined a number of measures that would be helpful to those in debt, including setting up an independent body to oversee bailiffs and giving extra powers “and the duty” to regulators to ban rogue traders.

Three companies that intentionally misled customers by offering to buy their credit card debt and relieve the debtor of the legal responsibility to repay it were prosecuted by the Office of Fair Trading earlier this year after ClearDebt exposed their practices.

But Citizens Advice believes further action could be taken that could help to eradicate unscrupulous firms.

Chief executive David Harker noted that his organisation is still seeing a large number of people suffer despite signs the downturn may be coming to an end and said: “The Citizens Advice manifesto is urging all the political parties to ensure that people who are struggling today are not left behind when the economy recovers.”

By Chris Trimble


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