“Nobody would want to be in this position.”
Lis shares her experience of living with with the trap of high cost credit.
I had to take out a pay day loan when I had a car accident, and my excess was £400, which I could not afford. My family were unable to afford it, so I had to go to a payday lender. I am still paying it off now.
Read Sherisha’s Story
I got into loads of debt with payday lenders. I would definitely say I’ve been affected by the poverty premium.
Read Danny’s StoryFollow The Conversation
2 days ago
ICYMI: @resfoundation: Low income households are bearing the brunt of the growth in expensive credit over the last 10 years. Read what @CarlPackman, our Head of Corporate Engagement has to say: https://t.co/2d7mvopeeP #PovertyPremium https://t.co/0baWNL4sxO
ICYMI: @resfoundation: Low income households are bearing the brunt of the growth in expensive credit over the last 10 years. Read what @CarlPackman, our Head of Corporate Engagement has to say: https://t.co/2d7mvopeeP #PovertyPremium https://t.co/0baWNL4sxO
ResolutionFoundation
@resfoundation
Furthermore, the rise in consumer credit among low-income households has been concerned in high-interest products such as credit cards (average quoted interest rate of 20%) https://t.co/mRhVJLieZQ
Furthermore, the rise in consumer credit among low-income households has been concerned in high-interest products such as credit cards (average quoted interest rate of 20%) https://t.co/mRhVJLieZQ
