Journalists/ Broadcasters
Debt on our Doorstep aims to highlight instances of extortionate and predatory lending in the media and we are pleased to assist journalists with stories, including case studies for broadcast and print.
In the past we have worked with Newsnight, Watchdog, and many national papers and magazines, and have been able to contact local community based agencies and locate case-studies.
If you are researching a story, please give us as much notice of this as possible. On average it can take one month to find case studies for broadcast and two weeks for print.
If you want assistance with research for stories, or wish to sign up for press releases, please e-mail us with details of your areas of interest in the first instance.
Competition Commission Acts Against £55 million Rip-off
Over £55 million is being paid in excessive interest rates to store cards providers in the U.K. That is the finding of the Competition Commission's final report, published today. On average, store cards are priced at 10% to 20% higher than they would be in a properly functioning competitive market. Competition Commission Deputy Chairman, Christopher Clarke, who chaired the inquiry, said:
'Retailers and store card credit providers are effectively insulated from competitive pressures. The consequence is that store cardholders who take up credit and associated insurance pay too much.'
The main store car providers include HSBC which yesterday unveiled profits of nearly £12billion.
The Commission has proposed a number of remedies including
making providers include a warning that cheaper credit may be available elsewhere in monthly statements; displaying prominently more and better information on all monthly statements; giving cardholders the option of paying the account balance on their monthly statements by direct debit;and ensuring insurance can be take out for payment protection alone - separate from other insurance packages
