Cllr Clare Cleary put a motion to Full Council recently for Hyndburn Borough Council to take measures to curb the amount of interest allowed to be charged for payday loans, some of which are in excess of 7,000% per annum. The motion was passed unanimously and a letter was written to central government.
http://epetitions.direct.gov.uk/petitions/20219
Residents who find themselves in financial difficulties are urged to contact their local Credit Union for rates of around 12% and the nearest is situated in Accrington Market Hall on the upper balcony.
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