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Personal debt is on the rise – the Financial Conduct Authority visits Nottingham to find out why

The FCA will be visiting St Anns Advice Centre today to talk to advisors about the rise in personal debt, and how the FCA can do more to regulate the sector.

Mark Steward, Executive Director of Enforcement and Market Oversight at the FCA will visit St Anns Advice Centre, an advice agency which provides support for local people who are experiencing issues with debt. The centre, which is based in the heart of the local community, runs several projects to help people overcome debt problems.

Debbie Webster, Manager of St Anns Advice Centre says:

“We know many people use credit to pay for essential goods and services. Our clients struggle with priority debts, like rent and council tax arrears, and often have to use credit cards, doorstep lenders and payday loans as a way out”.

Mark is visiting a range of local organisations, including a university and research centre, consumer organisations and charities to gain insight into the financial issues currently facing Nottingham residents.

Mark will speak to advisors about the challenges they have, discuss the financial products they use, and what drives people to choose particular products with a view to informing the FCA’s work.

Mark Steward, Executive Director of Enforcement and Market Oversight at the FCA, said:

“I am very grateful to Advice Nottingham for inviting me. To see at first hand the fine work by Advice Nottingham is enormously insightful and impressive in tackling the issues facing residents here, especially in relation to personal debt.”

The meeting will be held on Friday 6th October at 2pm .

Hannah Clemson – Policy and Communications Officer – Advice Nottingham
e: hannah.clemson@advicenottingham.org.uk | t: 0115 938 8066 |m: 07557 412 080

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