Callcredit welcomes increased clarity for borrowers

Credit reference agency Callcredit welcomes the Government shake up of the rules governing loan agreements which will provide greater clarity and protection for consumers.

Research from Callcredit reveals that nearly six out of ten Britons with unsecured debts don't know how much they owe but eight of ten say they are comfortable with their head in the sand attitude.

Callcredit director Alison Nicholson says: "Borrowers will be able to see much more clearly what they owe in total and how long they are committed for making it easier for people to manage their credit arrangements. This is a welcome step forward in tackling the problem of overindebtedness in the UK."

Individuals who want to find out what their credit file says about them can log on to www.mycallcredit.com - for the cheapest online credit report.