Rejected petition High percentage money lenders

More details

Companies are offering short term lending to people in financial difficulty at extortionately high interest rates of around 1734% ( compared typically to around 7 to 20% from banks and credit cards). Whilst it is true these loans are meant to operate on very short time scales, they are still presenting a very serious danger of getting into large debt very quickly. Should this practice be allowed?

This petition was rejected

Why was this petition rejected?

It’s not clear what the petition is asking the UK Government or Parliament to do.

We only reject petitions that don’t meet the petition standards.

Date submitted 4 August 2011
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