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Grahame Morris MP takes on legal loan sharking

Written by Grahame Morris Friday, 11 January 2013 17:12
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From Grahame's blog

 

My first official duty of the New Year was to launch a new initiative to help counter legal loan sharking in our area supported by the County Durham Credit Unit, East Durham Homes and East Durham Partnership. 

 

Under the Pilot Scheme, The County Durham Credit Union, which I have been a member and supporter of since it was established in 2010, provides an affordable loans package for furniture.  The £500 loans are available to those who complete a two week employability course and who also receive a £200 voucher from East Durham Partnership.  The £700 voucher must be redeemed with East Durham Partnership providing a basic furniture package to the value of the voucher.  The loan is repaid over 18 months at £7 per week by Standing Order.

 

To read the whole article, click here.

 

For Carl Packman's analysis of payday lending, click here

Last modified on Friday, 11 January 2013 17:19

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