MSP pushes for factor regulation

Mar 4 2010

A Labour MSP has branded a property management firm "debt farmers" as she made the case for a bill to bring in regulation for the factor industry.

Glasgow Maryhill MSP Patricia Ferguson highlighted the plight of some of her constituents as she opened a parliamentary debate on her proposals.

She told MSPs that some factors charged excessive admin fees on debts and sent it soaring sky high by adding compound interest.