Pay day loans harm our clients say financial counsellors
A national survey of over 300 financial counsellors has slammed the payday lending industry.
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payday lending
Cash Converters lending practices challenged in court
A disability support pensioner, Ronald Hayes, has taken legal action against Australian’s biggest payday lender in the Victorian Magistrates Court.
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Responsible lending doesn’t have to be restrictive
AAP The Federal Government has taken significant steps in recent years to protect consumers from predatory lending practices, such as very high-interest “payday loans”. An unfortunate, though surely unintentional, consequence of lending regulation is that people on low incomes or with poor credit records may find it difficult to secure loans. Under our National Consumer…
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Consumer groups launch ‘debt trap’ web site
A coalition of consumer and financial counselling organisations has launched a new website to ensure the hard truths are heard in the debate about the future of short term high cost loans – www.debttrap.org.au. The new website delivers the confronting facts about payday loans, busts myths currently being spread by payday lenders, and outlines safer…
Read More Consumer groups launch ‘debt trap’ web site