DEBT RECOVERY

Early day motion 62, tabled 7 December 2000 by Mike Hancock (Liberal Democrat). Signed by 53 members.

That this House denounces the unacceptable tactics used by lenders, specifically Abbey National Bank, to try to force settlements on debts which they will not properly substantiate; notes that such tactics breach the Mortgage Code while lenders are not being held to account; condemns mortgage shortfall debt recovery by lenders like Abbey National Bank many years after repossession; and therefore calls upon the Government to take the necessary steps to ensure borrowers are given the protection they deserve from lenders intent on maximising their profits at any expense.

Signatures by party: Labour 36, Liberal Democrat 15, Labour/Co-operative 1, Plaid Cymru 1.