The Consumer Action Law Centre is concerned vulnerable Australians, including new migrants, are often financially worse off after accessing pay day loans. The high-cost short term credit agreement is usually timed with a consumer's pay-day but many fall into debt, while the lenders gain profits due to attached costs. More than 135,000 of these loans are being written every month. R.Sathyanathan, a popular broadcaster, explains the Pay day loan system. Produced by RaySel.
Share
