Jan
08
2009
Shapps Exposes Loan Sharks Who Charge 10,000% Interest
Posted by: in Payday Loan, tags: Bank Of England, Economic Crisis, Excerpt, Grant Shapps, Housing Grant, Interest Rates, Loan Shark, Loan Sharks, Loans, Payday Loan, Random, Six Companies, Social Bookmarking Sites, Spokesman, Tory, Web PagesRandom Feed wrote an interesting post today on
Here’s a quick excerpt
In times of economic crisis loan sharks come into their own. Today, Tory Housing Spokesman Grant Shapps is releasing a report, PAYDAY FOR LOAN SHARKS, which shows they are charging interest rates of up to 10,000%. Although typical loans are under £1000 the whole loan shark market is worth a staggering £3 billion a year. Ninety per cent of the loan shark market is dominated by just six companies. I spoke to Grant last night about his report. This is what he told me.With the Bank of England slashi
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