The public should give
Faisel Rahman, a board member at Debt on our Doorstep – a body that seeks to encourage consumers to avoid such lenders – said there are many alternatives for people seeking finance.
“That might be their local credit union, which is an affordable provider of finance; or they might be a community finance organisation,” he noted.
Such bodies tend to be not-for-profit, ethical and can help with other matters such as getting a
The expert made his comments as a report from affordable housing provider Circle Anglia showed that over 100,000 people turned to
It warned that the interest on the £29 million borrowed will total £82 million.
According to the latest Bank of England figures, formal unsecured lending (excluding