Helping Keep The Chelsea Community Local
Sat August 15, 2020
- London crane crash 'could take months to clear' - It could be up to six months before the "complex operation" is complete, residents are warned.
- Leo Donaldson charged with murder over London fatal shooting - Christopher George died from a single gunshot to the chest after an attack in Edmonton.
- Jackson's Smile: 'I turned my gravely-ill son into a superhero' - Darren wrote a children's book about his on Jackson being a superhero.
- Coronavirus: Arrest over £110k Bounce Back Loan fraud - A woman was arrested in Ipswich after the crypto-currency fraud was discovered.
Avoiding Payday Loans
Posted by Administrator : Tuesday 5th March 2013
AVOIDING THE DOWNWARD SPIRAL. In the beginning everyone thought these payday loan lenders where all doing us a favour and it sounds so simple borrow a little bit of money just before your payday and then pay back on your payday.
However along with the extortionate interest rates on the initial loan combined with large late fees or large extension fees has led some individuals and families falling into further debt.
Finally the government have realised that local people in various communities have been and still are struggling to recover from these payday loans. Currently there is little legislation in place to help govern how the payday lenders operate and it is estimated the government now plan to put this in place to help these people.
If you have suffered or had a bad experience with a payday lender and are seeking advice, our local Chelsea council and local government have set up many financial advice lines and initiatives to help advise you on how to deal with such problems.