Thursday, 2 May 2013

Support An Interest Cap On Pay Day Loans

A petition has been opened on http://www.change.org that proposes a cap to be imposed on the interest charges for payday loans.

I fully support this petition as I think that lending should be done in a responsible and thought out process. Most people at some point in their lives know what it feels like to struggle to make ends meet or paying bills to keep a roof over their heads or family fed.

To be supporting this petition by having signed it myself I hope that it will have a positive impact on the world of lending and lenders.

There has already been progress on the petition that the Government have had to rewrite a part of the Financial Services Bill to allow a cap to be imposed on the interest rates charged for payday loans, which is great news for the 2 people that started the petition.

To find out more and sign the petition please visit https://www.change.org/en-GB/petitions/members-of-the-house-of-lords-support-an-interest-cap-on-pay-day-loans