Rejected petition Payday ban

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Payday loans are nothing more than a legalised form of robbery. They prey on the poor and desperate with extortionate intrest rates some as high as 4025% APR. Then they encourage you too keep rolling the debt over at £85 a month, in the hope that you can't make the payment. And once you fail to pay they hound you like a dog. There are even companies out there that will charge you a fee for just redirecting you to a Payday website, this fee is sometimes as high as £65 and you are not guranteed the loan. So the whole industry is corrupt and should be closed down

This petition was rejected

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Date submitted 7 March 2013
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