People in debt 'targeted by banks'
Posted by on 10th March 2010 to Debt News
People facing debts are deliberately being targeted by banks, according to a group of MPs in Scotland.
The Scottish Affairs Committee called on banks yesterday to stop using "aggressive tactics" on customers that were already in financial difficulty.
Its report also expressed concern that bank employees were being forced to try to sell unsuitable products to customers.
Drawing on evidence from Citizens Advice Scotland, the committee found that banks were demanding higher repayments from debt-ridden customers.
In some cases, banks transferred cash from current and savings accounts to pay off credit card or loan arrears without alerting customers.
Customers also complained about being harassed through automated calls from banks.
Mohammed Sarwar MP, the chairman of the committee, said: "Whilst the committee recognises efforts being made by the UK and Scottish governments to provide support for individuals and businesses who are struggling to cope, unacceptable practices used by banks must stop."
Posted by Clement Moine
Debt Free Helpline offer debt management plans as well as a range of other debt solutions. If you are worried about debt, contact one of our trained debt advisers today.
The Scottish Affairs Committee called on banks yesterday to stop using "aggressive tactics" on customers that were already in financial difficulty.
Its report also expressed concern that bank employees were being forced to try to sell unsuitable products to customers.
Drawing on evidence from Citizens Advice Scotland, the committee found that banks were demanding higher repayments from debt-ridden customers.
In some cases, banks transferred cash from current and savings accounts to pay off credit card or loan arrears without alerting customers.
Customers also complained about being harassed through automated calls from banks.
Mohammed Sarwar MP, the chairman of the committee, said: "Whilst the committee recognises efforts being made by the UK and Scottish governments to provide support for individuals and businesses who are struggling to cope, unacceptable practices used by banks must stop."
Posted by Clement Moine
Debt Free Helpline offer debt management plans as well as a range of other debt solutions. If you are worried about debt, contact one of our trained debt advisers today.
