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New Scottish debt laws questioned

21/03/2006


News Index Next Previous Consumers in Scotland who fail to pay debts of as little as £1500 could risk losing their homes under proposed laws, it has been claimed. New powers being considered by the Scottish Executive allow creditors to go to court to seek the sale of a debtor's home if they are owed £1500 or more. The Citizen's Advice Bureau believe loan sharks are likely to use the law the frighten debtors, and have urged members of the Scottish Parliament to to block the changes. Kaliani Lyle, chief executive of Citizens Advice Scotland, explained: "We believe creditors will pressurise debtors to agree to unsustainable repayment plans." Source: Getting Paid
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