Shopping Cart
Your Cart is Empty
Quantity:
Subtotal
Taxes
Shipping
Total
There was an error with PayPalClick here to try again
CelebrateThank you for your business!You should be receiving an order confirmation from Paypal shortly.Exit Shopping Cart

Honest Information, Profitable Trading

Durudarshan - Investment Analysis

My Blog

Blog

The huge APR moneylenders

Posted on June 27, 2013 at 2:38 PM
It seems the government is supposed to be doing something about curbing the big APR moneylenders, precisely what remains to be seen.
 
Just a look at some of the moneylenders' shop windows suggests some things that may as well be included in any future legislation. 
 
One shop says 'You can borrow upto £1,000'.  It does not give any rate of interest or any such indication.
 
Another, which used to display a rate of 2487%, does not display that rate any more.  But it urges borrowers to only borrow what they can afford to repay. 
 
A positive step would be for them to display the rate, and give a table of figures, giving say repayments for every £50 and £100 per month, so the borrowers are clear what it is going to cost.
 
I also note the Department of Work and Pensions is no longer offering Emergency Loans.  This may make the people in need turn to the loan sharks and suchlike....Something the government should be helping people avoid, that would be a people-friendly government, that serves the people.
 
The government could do well to teach basic budgeting and good housekeeping to people who are unemployed or ill, to help them prevent borrowing money which they could seldom afford to repay.
 
As for the people trying to live on a food allowance of £3 a day, that is £21 a week, and can buy a variety of good food, maybe walking to the supermarket twice a week and picking up fresh.  Bit of exercise as well.  And if you save £28 every four weeks, well, you'll be the richer every year. 
As the saying goes, pennies make pounds.  And the need won't arise to borrow from the sharks.
 
Kind regards,
Duru-darshan
 
 
 

Categories: Best in the Industry, Corporaate Social Responsibility, Divine Guidance, I would appreciate your comments, Jon Bon Jovi, Rockstar, Humanitarian, a Heart of Love., More libraries, free books., Mr Maponya, a dream city in South Africa., Oil Price, Interest Rates and Recovery, Personal three wishes for 2012, Social enterprise, Micro-finance for UK entrepreneurs., The Digital Economy, Website traffic streams, Welcome, Worldwide Economic Recovery

Post a Comment

Oops!

Oops, you forgot something.

Oops!

The words you entered did not match the given text. Please try again.

2 Comments

Reply write custom essays
11:24 AM on May 9, 2018 
There are several companies which offering services of loan. People can borrow money easily. They can improve their bad situations and to meet their needs. People can get specific amount of money and they can return money with interest.
Reply Vadi
4:44 AM on December 27, 2018 
I think this is a really good article. You make this information interesting and engaging.
download snipping tool windows 7