Interest-free loans – Hammond’s plan to solve problem debt

Government says loans will help people trapped in debt caused by payday lenders.

The government is to explore the idea of zero-interest loans to help the millions of people trapped in a cycle of problem debt caused by borrowing from high-cost providers such as payday lenders.

Campaigners welcomed the development, but they called on the government to go further to protect low-income households from exploitative lending practices.
Source: The Guardian

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