Quote:
Originally Posted by gynn
Its nothing new. My late dad told me about the moneylender on his street, who used to lend hard-up neighbours 3 half crowns on a Monday, to be paid back as ten bob on payday on a Friday. That works out as an APR of 3,041%. It made him determined never to borrow money, and as far as I know, he never did, other than his mortgage. With one or two blips, I've generally managed to follow suit!
As well as dealing with loan sharks, the government should also look at how easy it is for people to run up debts. Retailers are too ready to give credit if it boosts sales.
|
Reading your tale about your Father gynn, reminds me of a guy who used to frequent my local, he was on the dole. He came up to me one day and asked cold I lend hi a couple of quid until he got his Giro, I gave him two pound coins, the day he got the Giro, the first thing he did that night was gave me back the two quid, the only thing was this became a regular thing every week in fact until one day he came to give me back the 2 quid and I said no you keep it then you'll never need to ask me again, he never did
