More UK households are turning to high-cost lenders, says charity

Struggling UK households are turning to high-cost lenders in growing numbers as the cost of living crisis leaves them unable to pay their bills, anti-poverty charities have warned.

by | 3 Jul, 2022

It comes as the subprime lender Amigo, which has agreed to pay compensation to customers sold unaffordable loans, revealed plans to launch using a new brand called RewardRate. It wants to offer a personal loan with an annual interest rate of 49.9% and a guarantor loan at 39.9%.

Read more at The Guardian

More from Financial Accountant

The UK’s booming creative industries could employ even more people – if they attract fresh international investment

The UK’s booming creative industries could employ even more people – if they attract fresh international investment

Generative AI is making traditional ways to measure business success obsolete

Generative AI is making traditional ways to measure business success obsolete

Strategic plans to futureproof small business

Strategic plans to futureproof small business

Wales plans a tourism tax from 2027 – what it means for visitors and communities

Wales plans a tourism tax from 2027 – what it means for visitors and communities

AI feels like an unstoppable force. But it is not a panacea for businesses or society

AI feels like an unstoppable force. But it is not a panacea for businesses or society

How imposter syndrome and a lack of self-confidence can hold small businesses back

How imposter syndrome and a lack of self-confidence can hold small businesses back

Share This