Stunell urges Government to tackle loan sharks
April 15, 2003 12:00 AM
Local MP Andrew Stunell is backing a motion in Parliament urging the Government put tighter controls on unscrupulous lenders.
Mr Stunell said, "Poor and vulnerable people in Stockport are being targeted by dishonest lenders. All too often they are locked into contracts demanding weekly payments with outrageous interest rates that they simply can't maintain."
Andrew Stunell is calling on the Government to tackle over indebtedness by introducing new regulations placing firmer government controls on non-status and other alternative lenders.
Andrew Stunell said, "This Government has to show loan sharks that they mean business. They must take effective measures to stop the poorest members of our community being exploited and isolated by shady dealers."
ENDS
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