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Debts: Advisory Services

Business, Innovation and Skills written question – answered on 24th January 2011.

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Photo of Glenda Jackson Glenda Jackson Labour, Hampstead and Kilburn

To ask the Secretary of State for Business, Innovation and Skills how many submissions his Department has received in support of statutory regulation in the field of debt management; and if he will make a statement.

Photo of Edward Davey Edward Davey The Parliamentary Under-Secretary of State for Business, Innovation and Skills

The previous Administration conducted a consultation on whether a statutory debt management scheme should be introduced. We issued a summary of responses on 15 October 2010 which concluded that there was no strong consensus on the action that Government should take. The responses were published alongside our call for evidence 'Managing Borrowing and Dealing with Debt', which invited comments on the personal insolvency framework, including debt management. We have received a large number of responses to this call for evidence which are currently being analysed and will be published in due course. I have also received a number of letters on this subject.

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