Only Finance.com® - Citizens Advice Lenders aggressive in loans tactics

Loans - Citizens Advice: Lenders aggressive in loans tactics - 17/12/2007

Vulnerable customers in personal loan difficulties are being unfairly targeted by some providers, the Citizens Advice Bureau (CAB) said yesterday.

Research from CAB has found that customers who are having trouble with servicing their debts are often being subjected to "aggressive" phone calls and letters demanding that repayments be made.

Worse, some customers are being offered extra credit - potentially leading to future overspending and even worse debt problems.

Peter Tutton from CAB said: "We see a lot of cases of people coming in who have tried to talk to their banks about arranged payments and they haven't been listened to, and they have been asked for more than they can afford.

"Typically people find that, even after they have been dealing with us, they have found that they have been continued to be written to: they get aggressive letters and phone calls from their lenders."

CAB added that it has received a 20 per cent rise in debt-related calls in the past year.

At 1.7 million, it added that the call number stands as a new record - providing evidence for a worsening debt problem in the UK.

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