LOAN CONSOLIDATION COMPANIES

Early day motion 60, tabled 2 July 2001 by Paul Flynn (Labour). Signed by 50 members.

That this House deplores the misleading television advertisements of loan consolidation companies who promise debt relief by combining debts into a single management payment; notes that they increase, usually by more than 15 per cent., the total debts of their clients and lengthen the period of indebtedness; and urges restrictions on their misleading claims and a wider understanding of the similar services provided at no charge by the Citizens Advice Bureau.

Signatures by party: Labour 35, Liberal Democrat 11, Labour/Co-operative 3, Plaid Cymru 1.