CITIZENS ADVICE SCOTLAND AND PAYDAY LOANS

That this House welcomes the launch of the Citizens Advice Scotland campaign Payday Loans: your rights, their responsibilities which aims to ensure short-term, high cost credit, known as payday lending, is fair and responsible and people are informed about their rights when taking out a payday loan; notes that Citizens Advice Bureaux (CAB) have been very concerned about unacceptable marketing, lending and debt collection practices of payday lenders in their local communities; welcomes Citizens Advice Scotland's campaign, which will monitor local lenders' implementation and adherence to the new Good Practice charter for payday lenders, which includes providing clear information and credit vetting; remains concerned that research shows payday loans are increasingly used to pay for essentials such as rent and bills and not for emergencies or luxuries; encourages anyone who believes they have been unfairly treated by a lender, or who has problems with debt, to seek advice from their local CAB; and calls on the Government to introduce a cap on the total cost of credit charged by payday lenders.