by Steve Beasant on 6 December, 2017
The financial charity StepChange has called for an end to unauthorised overdraft charges because they trap people in perpetual debt.
“More than two million people used their overdraft every month last year. It’s wrong for banks to use unplanned overdrafts as a profit centre, this simply perpetuates the cycle of debt. Ending these charges would help millions of individuals and families.
“The Government must also speed up the introduction of the ‘debt breathing space’ scheme, which it sat on for far too long. This would allow people a window when they would be protected from further interest, charges, and enforcement action, giving them the opportunity to repair their finances.”Leave a comment