Share this page: 

Policy and Government

FCA remedies to help those with persistent credit card debt

calendar03 July 2017

30 million people have a credit card in the UK - that's 60% of the adult population. For the majority, a credit card is a useful credit product, but for an estimated 4.5 million who have persistent debt it is very costly and firms have little incentive to help them reduce this. In light of this, the FCA has proposed a new intervention that will rebalance incentives for both customers and firms to make an active choice to repay more quickly if they can afford to do so, and offer help to those who cannot. This is targeted at customers who have been in persistent debt for more than 18 months, which means they have paid more in interest and charges than in principal. CAP has responded to the FCA’s consultation to welcome this intervention but raise concerns that it will come too late for many in problem debt.

Read the full document here

Latest news and blogs

Help from unexpected places

Working together to change the finance industry.
Blog | Tuesday, 16 January 2018

Frying pans at the ready - it’s the Flipping Marvellous Pancake Party!

Together let's go flat out to end UK poverty.
Blog | Thursday, 11 January 2018

A special Christmas message to all our supporters

Blog | Thursday, 21 December 2017

Sign up for our weekly supporter emails

Christians Against Poverty will ensure your personal details are held securely to enable us to contact you moving forwards in line with our privacy policy. We will never share them with anyone else.
If you'd like to change your consent options in the future, please just contact us.

It looks like it's the first time you've visited the CAP website.
The cookie settings are set to 'allow all' to give you the best experience and help us maintain the site. If you continue without changing these settings, you consent to this.