Britain's permissive laws on unlimited interest rates on borrowed money have caused many people to repay a loan with a pound of flesh.
The numbers are increasing by the day, as our economy is strangled by Austerity.
Sky News reports:
"Over a million people are resorting to high-interest so-called 'pay day' loans to make ends meet."
While the Chancellor promises us that we shall suffer even more for years to come, as he dismally fails his Government's borrowing targets and the annual deficit remains as it was under Labour, ever more people in Britain are falling to debt-slavery:
"Nearly eight million people in Britain are struggling to keep up with mortgage or rent payments each month, according to the charity Shelter.
A total of 1.4 million have already fallen behind, with almost a million people resorting to high-interest so-called 'pay day' loans to make ends meet."
For the full article:
http://news.sky.com/story/1033099/mortgages-millions-struggle-with-payments