Join The CampaignHelp restrict consumer debt
Here’s a simple solution.
The only way to solve a problem of too much debt is to have less of it.
The banks have the system rigged in their favour and therefore it is time we put in place some restrictions to limit the damage caused by too much debt.
Let’s start with perhaps the worst type of debt – Credit Cards.
I think credit card debt should be restricted to 10% of an individual’s annual salary and a person should only be allowed to have a maximum of 2 credit cards.
So if you earn £12,000 per year, you can only borrow £1,200 on credit cards.
If you earn £24,000 per year, you can only borrow £2,400 on credit cards and so forth.
This restriction will allow people to benefit from the ease of credit card purchasing, purchase larger items that they can then pay off over a period of time, but limit the damaging effects that large amounts of credit card debt can have on your finances.
To help limit the damage caused by credit card debt, just sign the petition and let me know your thoughts.
Thank youMark Underdown