Council warns residents not to use payday loan companies this Christmas

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Published by Max Salsbury for 24dash.com in Communities and also in Featured, Finance

Islington Council is warning its residents not to turn to payday loan companies to cover Christmas costs. The council is taking action as record fuel prices and the Government's welfare reforms bite into the finances of those on low incomes. The local authority has teamed up with Islington Advice Alliance, London Capital Credit Union and others to advise residents against taking out payday loans with interest rates of up to 4,000%, and instead to join a local credit union for low cost 'Saver Loan...

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