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Tuesday 15 June 2010

exorbitant interest rates

Cllr. Brian Silvester is campaigning to have exorbitant interest rates outlawed.He has written to his Member of Parliament, Edward Timpson MP and asked him to take up the issue with the Government. Please see details below.

Brian Silvester

Cllr Brian Silvester BA (Hons)
Rope Ward Councillor
Cheshire East Council
Tel/fax 01270 567757
From: SILVESTER, Brian (Councillor)
Sent: 29 May 2010 11:30
To: (e.timpson)
Subject: exorbitant interest rates
Please see information below about that has been brought to my attention by a resident. I believe that totally exorbitant interest rates, like 3000% per year, should be outlawed.
I am sure that most people who use such loan companies like this do not realise the totally unacceptable rates of interest they are being charged. It is often the case that those who are least able to pay these excessive interest rates find themselves having to use such money lenders.
I would like you to take this up with the appropriate Minister and ask for such unbelievable interest rates to be outlawed.
With best wishes,

Not only these but banks my son is with Abbey National now Santender and he went £10 overdrawn the first time in years and they charged him £60. He wouldnt have gone overdrawn if they had stopped the money

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