CITIZENS ADVICE SCOTLAND AND PAYDAY LOANS

Early day motion 776, tabled 26 November 2012 by Fiona O'Donnell (Labour). Signed by 36 members.

That this House welcomes the launch of the Citizens Advice Scotland campaign Payday Loans: your rights, their responsibilities which aims to ensure short-term, high cost credit, known as payday lending, is fair and responsible and people are informed about their rights when taking out a payday loan; notes that Citizens Advice Bureaux (CAB) have been very concerned about unacceptable marketing, lending and debt collection practices of payday lenders in their local communities; welcomes Citizens Advice Scotland's campaign, which will monitor local lenders' implementation and adherence to the new Good Practice charter for payday lenders, which includes providing clear information and credit vetting; remains concerned that research shows payday loans are increasingly used to pay for essentials such as rent and bills and not for emergencies or luxuries; encourages anyone who believes they have been unfairly treated by a lender, or who has problems with debt, to seek advice from their local CAB; and calls on the Government to introduce a cap on the total cost of credit charged by payday lenders.

Signatures by party: Labour 22, Scottish National Party 5, DUP 3, Liberal Democrat 2, Social Democratic and Labour Party 2, Conservative 1, Plaid Cymru 1.