Pay day loans leave vulnerable people worse off

PAYDAY LOAN CONCEPT

Her ay 135,000 tane payday kredisi anlaşması imzalanıyor. Source: iStockphoto

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.



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