Helping Keep The Leicestershire Community Local
Thu April 2, 2020
- Coronavirus: New job starters 'petrified' over wage help scheme - Workers who started new jobs in March are not eligible for the government's wage grant scheme.
- Coronavirus: Volunteer's car damaged twice in days - Helen Crouch had all her car tyres slashed, then a day later the car scratched and windows smashed.
- Coronavirus: Brother pays tribute to 'hero' consultant - Amged El-Hawrani "went out fighting like the noble, strong man he was", his brother says.
- Joshua Taylor trial: Boy who killed friend after 'speaker row' jailed - Dylan West, 17, was found guilty of manslaughter after stabbing Joshua Taylor in Hinckley last year.
Avoiding Payday Loans
Posted by Administrator : Tuesday 5th March 2013
AVOIDING THE DOWNWARD SPIRAL. In the beginning everyone thought these payday loan lenders where all doing us a favour and it sounds so simple borrow a little bit of money just before your payday and then pay back on your payday.
However along with the extortionate interest rates on the initial loan combined with large late fees or large extension fees has led some individuals and families falling into further debt.
Finally the government have realised that local people in various communities have been and still are struggling to recover from these payday loans. Currently there is little legislation in place to help govern how the payday lenders operate and it is estimated the government now plan to put this in place to help these people.
If you have suffered or had a bad experience with a payday lender and are seeking advice, our local Leicestershire council and local government have set up many financial advice lines and initiatives to help advise you on how to deal with such problems.