Join an Epetition to fight pay day loan companies

Stellar Creasy MP in conjunction with the Daily Mirror, would like you all to consider joining an epetition to force the government to take action against payday loan companys that charge very high interest rates on loans, these companies often target the most vulnerable people, Stella’s message obtained from the Consumer Action Group Website is below: 

Please feel free to pass it on to as many people as you can to ensure that the petition gains all of the momentum it needs to be taken seriously by the government.   

The Daily Mirror has posted a new e-petition on the Government’s site in support of our campaign to tackle the problems caused to consumers across the country by legal loan sharking. If 100,000 people sign it, the Government will be forced to take action at last on the growing problem of high-cost credit. You can find the petition here:

http://epetitions.direct.gov.uk/petitions/20219

Britain’s high-cost credit industry has been gearing up for another bumper festive season. New research shows that since 2009 there has been a fourfold increase in the numbers of people getting into debt problems as a result of taking out loans with payday lenders, home credit providers and hire purchase agreements.

Yet despite this evidence the Government is delaying taking action to regulate these firms, appearing not to notice the speed at which this problem is growing and avoiding discussing the matter in parliament.

Now with Christmas on the way and the rising cost of living, families are facing even more pressure on their incomes. Whilst other countries offer protection to their citizens through caps on the costs of credit, the UK Government has ruled out any action on these firms before the end of 2012.

This petition is the only way we can make the Government confront this issue in time to protect British consumers this Christmas.

Please circulate this link as widely as possible so we can bring an end to legal loan sharking.

http://epetitions.direct.gov.uk/petitions/20219

Stella Creasy

Labour and Co-operative MP for Walthamstow”