DEBT MANAGEMENT

That this House welcomes the recent decision of the Office of Fair Trading to act against a fee-charging debt management company in respect of misleading advertising; notes, however, that this is only one symptom of much more widespread problems across the fee-charging sector, with customers often being encouraged to take out the most profitable arrangement from the business's perspective rather than the most appropriate one for the individual; and calls on the Government to replace the current discredited system of self-regulation with a statutory regime.