How Will Parliament Hang With UK Consumer Debt?

With the UK preparing for its first hung parliament in over 35 years and with individual insolvencies reaching an all-time high, we’re asking whether consumer debt is high enough on the political agenda and how the Government is going to tackle the growing consumer debt crisis.

Previous attempts by Government to tackle consumer debt have been branded a failure, with an official National Audit Office report published last month highlighting a lack of management by the Department for Business, Innovation and Skills (BIS).

With the UK preparing for its first hung parliament in over 35 years and with individual insolvencies reaching an all-time high, we’re asking whether consumer debt is high enough on the political agenda and how the Government is going to tackle the growing consumer debt crisis.

Previous attempts by Government to tackle consumer debt have been branded a failure, with an official National Audit Office report published last month highlighting a lack of management by the Department for Business, Innovation and Skills (BIS).

With consumer debt standing at £1500 billion and figures released today show personal insolvency at record levels, it is essential for the new Government to look at fresh ways to tackle the debt problem.

We believe there is a sustainable way for the not-for-profit sector to deliver debt advice, based on a self-funding model. By utilising the creditor funding methods that commercial debt advice companies use, the third sector can provide free advice and solutions, without relying on public funding or compromising appropriateness or quality.

Our charity is committed to helping bring about legislative change to benefit UK consumers and we are campaigning for an Ethical Debt Advice Framework to be enforced across the financial industry.

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