Closed petition Legislate to limit interest rates for personal loans

Both before and during the pandemic, Personal Loans companies are taking advantage of the desperation of people. We urge the government to take action and make illegal for personal loan companies to charge interest rate beyond a fixed legal cap.

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I am victim of a high-interest personal loan lender. I took a loan when I was financially struggling and didn’t really understood the interest rate. People taken advantage by these lenders can end up repaying many times the amount they borrow, and can find themselves unable to repay the loan at all.

This petition is closed All petitions run for 6 months

10 signatures

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10,000

Date closed 26 September 2021
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