Citizens Advice: Financial Services Bill will help debtors

The Citizens Advice Bureau has voiced its support for the Financial Services Bill, with director of public policy at the body Teresa Perchard saying that it is an “important step forward” in supporting the public in such difficult times.

She went on to note that enabling organisations to bring actions on behalf of people will mean that more are able to secure redress through the courts.

It was also hoped that this will spur regulators on to act “more vigorously” to help debtors.

Ms Perchard further stated that the new money guidance service is the correct course of action, saying: “We are sure that it will help greatly in ensuring that people are more financially capable and better able to avoid debt in the future.”

Citizens Advice also approved the prohibition of unsolicited credit card checks but expressed wishes that the bill include a ban on such increases in credit limits.

In related news, Consumer Focus has responded favourably to the first reading of the energy bill – which will offer more assistance to low-income clients – saying that it is promising that the government is showing leadership on this issue.

By Sarah Adie