Text us your news! Start your message Warrington News and send any photos or videos to 80360
Businesses hit by payday loans
11:00am Tuesday 24th September 2013 in News
COUNCIL chiefs have revealed a number of ‘cautionary tales’ from residents who have fallen foul of payday loan companies.
Examples including a woman borrowing £100 before ending up owing £1,200 and one man on benefits who had six separate payday loans have been released after the council’s ban on payday loan websites came into force.
From this week people can no longer use computers on council premises, including libraries, to sign up for high-interest loans.
Council leader Clr Terry O’Neill said: “We hope that if people hear about the difficulties that some of their neighbours have got into at the hands of payday loan companies, it might prompt caution.
“We would encourage people who are feeling the pinch to look into alternatives including credit unions.
“The council offers free money advice online and people can get free advice from charities such as the Citizens Advice Bureau.”
Comments are closed on this article.