Press Release
CCCS WELCOMES BARCLAYCARD INITIATIVE
20 October 2005
Malcolm Hurlston, chairman of Britain's leading debt charity - Consumer Credit Counselling Service, said:
“We welcome the Barclaycard initiative. There has been far too much misleading emphasis - from government and in the media - on APR, which is only one factor.
“The problems of people we help arise substantially from penalties and charges and the card industry has been careering towards a socially dangerous situation in which a smaller number of people, badly organised or financially damaged, are paying the bill for the rest of the community.
“In this context Barclaycard's new initiative, together with MBNA's move back towards annual fees, represents a more intelligent approach by lenders which offers consumers a helpful choice.”
CCCS now manages over £1billion of problem debt, helping people in difficulty repay their lenders.
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