A new survey says that 1 out of every 20 families in the UK falls under the payday loan curse, but there’s hope: some people are banding together to fight.
Well, this will surprise no one: famous spendthrift Kerry Katona is skint once more – and is dropped from her lender as its spokesperson!
Payday advance lenders have been in the news this week, and not in too many positive news stories either – but you don’t need me to tell you that, do you?
Payday advance lenders have become more or less universally reviled, with debt advice charities and MPs alike all coming together to condemn payday loans.
Well, it’s official: the University of East London has cemented itself as my favourite institute of higher learning after banning all payday loan adverts.
Debt problems are rampant in the UK at the moment – with younger Brits hit especially hard by unemployment – yet there are some payday lenders expanding.
Thanks to impending welfare and benefit reforms, the number of households sinking into debt is more than likely to skyrocket sometime in the immediate future.
Here’s a story that will get you hopping mad: the Scottish government’s decision to increase bankruptcy costs means the poor need payday loans to afford it!
New research revealed this week that payday loan providers are benefiting from the massive overdraft charges high street banks charge to their customers.
With this week marking the one-month anniversary of Christmas Day, campaigners warn that festive season debt from payday loan providers has come home to roost.