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M O R G A N A To: House of Commons
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Regarding: Excessive Interest Payments.
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Thursday, 28 June 2018

I am a freelance macroeconomist. I develop new tools and policies, with the intention of
providing efficiencies to enable the free market to prosper. I communicate with many
government ministers, political groups and economic institutions to achieve progress. I have
previously written to you (the letter dated 04 June 2018, enclosed), putting forward the
concept of a Satisfied Principal Order or 'SPO'. The idea is to provide a Court Order Judges
can use to write off debts that exceed an interest ceiling, to prevent excessive debt charges.

The letter (dated 04 June 2018) was also sent to HM Treasury's Personal Finance and Funds
Department. Their reply was (the letter dated 20 June 2018, enclosed), the Financial Conduct
Authority (FCA) introduced an interest cap of 100% of the overall debt in 2015 (highlighted).
In the article sent with the letter (dated 04 June 2018), putting forward the Satisfied Principal
Order, I anticipated regulation may already exist to limit interest charges (highlighted). The
real need is for a Court Order enabling Judges to end debts when the interest cap is surpassed.

As the interest cap is stated as being, "twice the sum they have borrowed". The Court Order
would become effective when the interest payments exceed double the principal value.
Perhaps a Satisfied Double Principal Order or 'SDPO' Court Order could be introduced.
Regulations frequently become infringed. The regulation itself is only part of the solution,
enforcement of the regulation must be provided. The 'SDPO' would allow anyone whose debt
repayments which exceed the FCA's regulations to apply for debt release at a County Court.

The introduction of the 'SDPO' should streamline the process of relieving excessive interest
charges. It could enable the debtor to claim compensation for overpayment of the debt, if the
repayments have exceeded the FCA's limit, allowing them to receive excess charges back. It
also allows the creditor to put forward a legal defence, if the FCA's regulations have not been
infringed. Protecting the creditor too, if they are within interest charge limits. By providing
the 'SDPO' it enables a County Court to remedy situations in entirety, quickly and legally.

Kind Regards. T
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Peter James Rhys Morgan. T
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PJR Morgan: Website: morganisteconomics.blogspot.com L J O
Copyright © Peter James Rhys Morgan 2018. A R R
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