Pay-day loans: earning money off their individuals misfortune?

Michelle and David Reade took down financing from Wonga at 4,214per cent – after which destroyed their jobs

Photograph: Richard Saker when it comes to Observer

F ew people survive towards the end of this thirty days on the income or advantages re payment in Chatham, in the event that stores regarding the Medway city’s high-street are almost anything to pass by. You can find eight cash advance stores, pawnbrokers and cheque cashers nestled amongst the lb stores and also the hire purchase shop, Brighthouse, as well as all be seemingly doing business that is brisk. Two companies, the funds Shop and Albermarle & Bond, have actually exposed two branches within a hundred or so yards. (more…)

Read More