South London Community
Helping Keep The South London Community Local
Fri July 3, 2020
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- Coronavirus: 'We'll be cutting hair from midnight' post-lockdown - Hairdressers and barbers can reopen from 4 July in England, with many booked up already.
- Coronavirus: A lockdown journey from couch to kettlebells - Sometimes life throws you curveballs - and at the moment they're shaped like kettlebell weights.
- Coronavirus: Cardiff man meets doctor who saved his life - At one stage the oxygen level in Davide Compagnone's blood was lower than on Everest's peak.
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.