WiredGov Newswire (news from other organisations)
 Printable version
|
 E-mail this to a friend
|
CAB - Debt problems with payday loans more than doubles in one year
Citizens Advice launches national survey to hold payday lenders to account
As the new payday lending customer charter is launched, Citizens Advice Bureaux across the country are releasing new figures demonstrating a worrying increase in the number of serious debt cases relating to payday loans.
The Citizens Advice service has seen a ten-fold increase in the proportion of clients receiving casework help with multiple debts which included a payday loan debt in the last four years. In the first quarter of 2009/10 only one per cent of CAB debt casework clients had at least one payday loan and in the same quarter last year this had risen to four per cent. In the same quarter this year, 10 per cent had at least one payday loan.
Advice given by bureaux includes which debts to prioritise, a client’s right to stop payday lenders taking money straight out of their bank account and negotiating a manageable repayment plan with the lender on a client’s behalf.
