The Finance Sector Union (FSU) is calling on the Federal Government to regulate the whole credit industry, amid reports of growing pressure to sell loans in a climate of rising interest rates.

One in four people are approaching state retirement age with outstanding consumer credit commitments, owing four times as much as their counterparts did ten years ago, according to a new study by Bristol University’s Personal Finance Research Centre. The research found over 50s and early 60s owe on average £3,000 and £2,000 in unsecured credit respectively.

Top state officials will urge House lawmakers on Wednesday to support their effort to change the way credit-rating agencies evaluate bonds given by state and local governments.

Although a lot of companies and websites out there claim to give you a copy of your credit reports for free, over 95% of them will make you to sign up to a credit monitoring service which will eventually cost you money before you can see your "free" credit report.