This petition was submitted during the 2010-2015 parliament
Rejected petition Pay Day Loan Exploitation
More details
We are a group of Students from St Helens College studying public services; this is a joint petition from the members of our course for a subject we feel strongly about.
We feel that the current advertisement of high interest loans on TV is damaging and targeting the most vulnerable in society.
Some of these companies are charging interest rates that are above 1000%.
These payday loans are often given with minimal credit checks and are advertised as being available to all; this targets those people who cannot access standard credit facilities.
We would like the following to be discussed;
•Limitations on the advertisement of high interest payday loans on TV.
•The selling of personal details gained during loan applications.
•Credit checks on all loans.
•Prevention of text message selling and cold calling via text messages.
This petition was rejected
Why was this petition rejected?
There’s already a petition about this issue. We cannot accept a new petition when we already have one about a very similar issue.
You are more likely to get action on this issue if you sign and share a single petition.
We only reject petitions that don’t meet the petition standards.