Submitted on Sunday 11th December 2011
Published on Tuesday 13th December 2011
Current status: Closed
Closed: Tuesday 13th March 2012
education on pay day loans
Whilst recognising that pay day loans may be helpful when paid off quickly, we believe that wider and easier access to information about the rapidly spiralling interest rates should be made available through clear newspaper and tv advertising, plus other appropriate channels, to enable people to make well considered and informed decisions before taking out such a loan.
We call upon the Government to expedite such action to substantially reduce the potential suffering to individuals and families caused by these loans
and to look at ways to legislate against such exorbitant interest rates.
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