Closed petition education on pay day loans

Closed on 13 March 2012

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.