Clause 9 - Notice of sums in arrears under fixed-sum credit agreements etc.
Consumer Credit Bill
10:15 am
Charles Hendry (Shadow Minister, Trade & Industry; Wealden, Conservative)
Does the Minister not accept the point that the hon. Member for North Norfolk and I made: that the individual is not prejudiced by being behind in those payments? An extra four weeks is simply added to the time in which the debt is to be paid. There are no charges involved, no extra interest payments and no arrears. To send the person a note saying that they are in arrears is actually incorrect, and can only cause concern to the borrower.