People in serious debt can expect more legal protection from bailiffs, charges and interest after pledges in the major parties' manifestos.

The Conservatives and Labour have vowed to extend a "breathing space" scheme used in Scotland to allow people time to organise repayments. Others, including the Lib Dems, want more regulation in the debt sector. There is widespread concern over the levels of personal debt among working households.

Warnings

The City regulator - the Financial Conduct Authority (FCA) - has warned of an acceleration in consumer borrowing, such as loans, overdrafts, credit card debt and car finance. This echoes concerns raised by the Bank of England. The total amount of consumer debt tops £1.5 trillion. Although this is dominated by mortgage borrowing, there is a vast array of debt products creating concern. A Lords committee also recently called for stronger controls such as a cap on "rent to own" products.

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