It’s never been easier to get into debt. And it’s not just those on low incomes struggling to make ends meet – increasingly working people with good incomes are turning to high cost lenders for short term, fast loans.
These lenders – most of which offer instant loans online – are making fat profits off people’s desire to have something extra – especially at Christmas.
We believe these borrowers – many of them young men in their 20-30s – are a debt crisis waiting to happen.
You probably know at least one person in this situation.
So we made this video to get their attention – and yours – in the hope of breaking the cycle before it goes “nuts” …
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— Consumer Action (@consumer_action) November 30, 2017