Loan Sharks - The Rise and Rise of Payday Lending

Description

Banks fall over themselves to lend to rich customers who promise large glittering deposits and low risks. They tempt them with sweet deals and low rates. The less well-off are treated very differently. Many at the bottom are denied credit from mainstream lenders, or forced to pay higher premiums. In the wake of the financial crisis, more of us are slipping into this category. We are compelled to find credit elsewhere. Payday loans are therefore on the rise. Loan Sharks lifts the lid on this industry and exposes the growing power that it wields. Documenting the rise of the industry with detailed evidence, Carl Packman shows that, although there have always been loan sharks, there has never anything as large and powerful as the current set of payday loan companies operating virtually unchecked in the mainstream of the UK. But this book goes further than simply analysing the problems: it also offers an honest discussion about practical solutions. Review: Brilliant - Such a brilliant book! Gives an insight into this industry without overpowering with complicated jargon. I particularly love the fact that it focuses on these industries operating within the UK - which is a change from other, if not most, literature which is based in the USA. It's such an easy read, I would definitely recommend it to anyone.