New guidance relating to the credit industry could offer more support to the country's consumers, it is believed.
Produced by the Office of Fair Trading (OFT), the advice aims to improve the lending practices that exist in the UK.
Among the recommendations made in the organisation's document was a suggestion that those looking to get credit should be assessed to see if they will be able to meet their debt repayments.
Meanwhile, the OFT would also like people to be provided with more details about any credit agreements that they are considering entering into.
Consumer credit director at the body Ray Watson suggests that the guidance might additionally prove useful to those lending money.
"Our guidance makes clear to lenders the sort of practices that will be considered as evidence of irresponsible lending," he commented.
Meanwhile, UK ministers last week laid in parliament a number of proposed regulations relating to unsecured credit.
Posted by Martin Peacock.
