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Carl Packman on the latest antics from the world of payday lending

Written by Ashwin Rattan Thursday, 20 September 2012 06:29
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''Today, the mighty force that is the Daily Mirror's Penman and Sommerlad uncovered details of the payday lender Cash Store touting for customers outside a school in Edinburgh. 

 

It was revealed that bound leaflets were pinned up, along with staffers handing out balloons, near the school -  offering cash loans for uniforms with no information detailing interest rates or how much the loan would cost overall.

 

A spokesperson for the company said it was a one-off, but this is the excuse of someone who was caught out.

 

We must ask ourselves: what type of company would think to do this in the first place?

 

Would we trust such a company for credit?''


To read the full story, click here


Carl Packman is the author of Loan Sharks - The Rise and Rise of Payday Lending, to be published by Searching Finance in September 2012.



Last modified on Thursday, 20 September 2012 19:35

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