Mark is strongly supporting tough action by the Government to end unfair lending terms by credit card firms.   The Government is proposing to:

• Ban the practice of increasing credit limits without prior consent
• Ban unasked for credit card cheques
• Place restrictions on increasing the interest rate on existing debt
• Change the rules so that the most expensive debt on your credit card is paid off first. (Currently most credit card companies make you pay off the cheapest debt first.)

Supporting the move, Mark called on credit and store card companies to give people a fairer deal.

Mark said:

"The ruthless way that some credit card companies operate means that people can find their debts spiralling out of control.
 
“Many of the people facing mounting debts are just trying to meet basic bills rather than cope with the consequences of binge buying.

“These proposals are an important step forward. We need to do all we can to help people repay their debts - which is in the best interests of everybody – rather than push them even further into trouble."

Mark chairs an All-Party Group on Debt and Personal Finance at Westminster and earlier in the year he worked closely with Citizens Advice Scotland to table a Motion in Parliament calling for advice services such as Citizens Advice Scotland to be properly resourced and new measures to help people struggling to repay their debts. To read this, click here.


The Government has already significantly increased the financial support to advice agencies. The new proposals are further evidence of its determination to support people in managing their debts and ensure the credit sector is properly regulated.

For more information on the Government’s proposals, click here.