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Debt Collection

Volume 699: debated on Wednesday 27 February 2008

asked Her Majesty's Government:

What assessment they have made of the current legislation surrounding debt collection agencies. [HL1767]

The legislation relating to debt collection agencies has been reformed as part of a wider review of consumer credit law. The Consumer Credit Act 2006 strengthens the regulatory options available to the Office of Fair Trading, which is responsible for the licensing of debt collectors. In particular, businesses engaging in certain credit activities, including debt collection, will be subject to greater scrutiny at the licence application stage and greater monitoring throughout the life of the licence.