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Fears of debt with payday loans; FEEDBACK.

THERE has been a tremendous amount of controversy in the news recently regarding pay day loan companies, all of whom charge extortionate amounts in their annual percentage rates (APR). Unfortunately when money is as tight as it is at the moment, most people who apply for these loans do not even read the small print.

This is why so many people are getting into debt, which can last a lifetime.

It's a very difficult time for a lot of people at the moment. I strongly believe that Britain needs to tackle this issue of pay day loan companies.

This controversial issue together with pawn brokers can only be dealt with by getting the banks to lend only so much money, which they can afford to pay back within a certain time.

CATHERINE NICHOLS, Ryton
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Publication:Evening Chronicle (Newcastle, England)
Date:Oct 1, 2013
Words:134
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