DEBT MANAGEMENT FEES

Early day motion 874, tabled 21 October 2010 by Clive Betts (Labour). Signed by 43 members.

That this House deplores as extremely damaging the poor practices engaged in by a number of debt management companies that charge fees of their customers, a practice uncovered by the Office of Fair Trading as part of the compliance review it conducted around its Debt Management Guidance; supports those demanding that the current system of self-regulation operating in that sector, which has palpably failed, be replaced by a statutory regime; and calls on the Government to bring forward the legislation necessary to introduce such a regulatory framework at the very earliest opportunity.

Signatures by party: Labour 32, Liberal Democrat 6, Alliance 1, Conservative 1, DUP 1, Plaid Cymru 1, Social Democratic and Labour Party 1.