Mum’s fury at payday loan companies she claims are targeting low income families in build up to Christmas
She's has FIVE leaflets in ONE week
A FURIOUS mum who lives on a council estate in Somerset, took to Facebook to vent her frustration after she received her FIFTH payday loan pamphlet in ONE week.
She fumed: "This really p*sses me off! These companies prey on families who live on council estates."
Kez Dancy, who blogs about saving money at Coupon Mama believes that now Christmas is close, the Payday Loan companies are upping their game and targeting the vulnerable.
She said: "When it gets close to Christmas, they assume we're all skint and desperate just so they can con you with the huge APR."
The latest Payday loan company to drop a leaflet through her door was LoansatHome, which says on its website that the maximum APR applied across its products is 732.70 per cent.
Kez explained: There was a time when I was skint enough to fall for these because as parents we all want to give our kids the best for Christmas.
"It makes me so angry that people like this make money from parents desperation."
Kez told The Sun Online: "Parents are under more and more pressure every year to buy their children the latest toys and gadgets.
"These don't come cheap at all and for some families this can be a real struggle.
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"There are some fantastic charities out there that offer help but unfortunately, there are also those companies who see parents desperation as a way to make money.
"These doorstep lenders target people who live on council estates or in low income areas knowing they are likely to be worrying about how they are going to be able to afford to pay for everything at Christmas time.
"I have known families in my area who have taken out these loans and are still paying them back 203 hears later.
"These doorstep lenders work on a commission so they can be quite pushy in convincing you to take out a loan."
Charlo told the Sun Online: "If people are struggling with their finances, they can contact their local Citizen's Advice for help."
We have reached out to Loansathome for comment.