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Debt fears remain despite manifesto 'breathing space' plans - BBC News

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People in serious debt can expect more legal protection from bailiffs, charges and interest after pledges in the major parties' manifestos.

The Conservatives and Labour have vowed to extend a "breathing space" scheme used in Scotland to allow people time to organise repayments.

Others, including the Lib Dems, want more regulation in the debt sector.

 

There is widespread concern over the levels of personal debt among working households.

 

The FCA is already conducting is own inquiry into overdrafts, door-to-door lending and other forms of loans. Consumer groups have consistently argued there should be an overdraft cap in place.

The regulator estimates that 3.3 million people are in persistent credit card debt.

 

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Edited by Andyorch
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