Media comment: FCA credit card recommendations

Monday 3 April 2017

Commenting on recommendations from the FCA that credit card providers should aim to help those in persistent debt, Caroline Siarkiewicz, Head of Debt Advice at the Money Advice Service comments:

‘Helping consumers remove themselves from persistent and, in some cases, unmanageable levels of debt is vital to improving the financial security of millions across the UK. Research by the Money Advice Service shows that nearly eight million people across the UK are over-indebted and credit card debt is the second most cited reason for people seeking free debt advice funded by the Money Advice Service. With the information they hold on their customers finances, the credit card industry is well placed to identify and support people in or at risk of problem debt. Anyone worried about their levels of debt can visit the Money Advice Service’s free debt advice locator tool to find sources of free debt advice in their area.”