CCR Magazine

You are here  :Home arrow News arrow StepChange Debt Charity response to the Law Commission’s recommendations on logbook loans
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
StepChange Debt Charity response to the Law Commission’s recommendations on logbook loans PDF Print E-mail
Monday, 12 September 2016
In response to the Law Commission’s recommendations on protecting consumers from unfair logbook loans, Peter Tutton, Head of Policy at StepChange Debt Charity, said:  “Legislation on logbook loans is over a century old and not fit for purpose, so it is good to see action being taken. Logbook loans can cause significant harm and the current protections are wholly inadequate.

“We need effective, modern consumer protection and these recommendations are a positive step forward. However, in their current form, they will not provide adequate protection and the people who will suffer are the ones that need it the most.

“If people have to actively opt-in to receive protection from the courts against lenders repossessing their car, our evidence suggests it will not work. It requires too much proactivity and understanding from financially vulnerable people who may not even feel able to open their mail. It also requires too little from sub-prime lenders seeking to take away a car that could be essential for work or family life.”
 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197