Debt problems could be eased by government's financial policies
Debt problems could be eased by government's financial policies
- Wednesday, 26 May 2010The government's commitment to protect those on a lower income and frontline services is good news according to the Citizens Advice Bureau.
For those with
debt problems who are struggling to pay off their mortgages, repossessions would be a last resort, according to the Queen's Speech.
The Queen's Speech, which details the policies the government plans to introduce over the next 12 months, was held yesterday and revealed that unfair debt enforcement would be ended.
Teresa Perchard, director of policy at Citizens Advice, said: "We hope the government quickly brings forward measures to implement policies set out in the Coalition programme to strengthen consumer protection and end unfair practices in financial services.
"We support the government intention to end unfair bank charges and to give people in financial difficulties better protection against aggressive and unreasonable debt enforcement."
Other financial policies that were announced include the enhanced regulatory role that the Bank of England will play and a Comprehensive Spending Review, to be held in the autumn.
In its coalition programme the government revealed that it would tackle unfair bank charges for exceeded overdrafts and credit card rates, which could easily put a consumer into
debt problems.

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