South London Community
Helping Keep The South London Community Local
Tue April 23, 2019
Latest News
- Crossrail: Transport boss 'urged to quit' over delays - A damning report says the project to build a new railway under London had an "overly optimistic" culture.
- Extinction Rebellion: Climate protesters march on Parliament - Extinction Rebellion activists in London are inviting MPs to talk about environmental policies.
- Donald Trump's state visit to the UK set for 3 June - Buckingham Palace announces the US president will arrive in the UK for the start of a three-day visit.
- Photographer helping young people talk about self-harm - In 2018, almost 1,600 young people in London went to hospital with self-harm related injuries.
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 South London council and local government have set up many financial advice lines and initiatives to help advise you on how to deal with such problems.