Local minister backs calls to stop unfair lending

Reverend David Dean-Revill of St Christopher’s Church in Gleadless is supporting a campaign for a law to limit interest rates on consumer borrowing. Dean-Revill is concerned that every week many people on low-incomes turn to pay-day loans and other borrowing just to survive and can find themselves deeper in debt. Current legislation allows companies to charge up to 0.8% per day which amounts to 24% per month. A Stop Unfair Lending petition is gathering support and calls on the government to legislate to limit interest rates to a maximum 100% APR including fees. Sheffield Live! reporter Azz Mohammed spoke to Reverend David Dean-Revill.

Leave a Reply

Your email address will not be published. Required fields are marked *