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StepChange Debt Charity response to Rent to Own inquiry

10 February, 2015

In response to today’s (February 10) report from the All Party Parliamentary Group on Debt and Personal Finance following its inquiry into the Rent to Own sector, Mike O’Connor, chief executive of StepChange Debt Charity, said:

“This report throws much needed light on a dark corner of the credit industry which exploits some of the most vulnerable people in our society.  People who are already struggling should not have to pay a ‘poverty premium’ and end up paying much more for basic goods than those of us who are more fortunate. 

“There is a demand for rent to own goods but if consumers are to be treated fairly the pricing needs to be much more straightforward and transparent.  The Financial Conduct Authority should urgently review those aspects of the rent to own market that are clearly not fit for purpose.”

StepChange Debt Charity news contacts

Contact the the StepChange news team on:

Tel: 0207 391 4598

Mobile: 07985 404153

Email: press@stepchange.org

Follow our press team on Twitter: @StepChange

Helping you become debt free...

“I wish to thank your staff for all the great help they gave me when I was in so much debt.
They were a pillar of support to me.” (Leslie, Essex)

Foundation for Credit Counselling Wade House, Merrion Centre, Leeds, LS2 8NG trading as StepChange Debt Charity and StepChange Debt Charity Scotland. A registered charity no.1016630 and SC046263. It is a limited company registered in England and Wales (company no:2757055). Authorised and regulated by the Financial Conduct Authority.

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© StepChange Debt Charity 2016