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Monday, 26 November 2012

Karen's story - read this



---------- Forwarded message ----------
From: Arthur Breens <mail@change.org>
Date: Mon, Nov 26, 2012 at 2:39 PM
Subject: Karen's story



 
Change.org
On Wednesday the House of Lords has a chance to cap the interest levels on pay day loans. Join Arthur's campaign and urge them to ensure that rates are limited so borrowers have a chance to get on top of their debt.
Sign My Petition

Jules -

Our foster daughter Karen* is a hard worker. She has been ever since she left school at 16. Having struggled at school with special educational needs, she set her mind to getting a job and working to support herself.

Sadly, it wasn't always easy for Karen and she fell into a cycle of alcohol abuse, gambling and debt. That's when she turned to a pay day lender.

The debt of £100 soon spiralled out of control and she found herself owing £1,000 with the companies chasing her ruthlessly for the ever increasing sum of money.

Some of these firms charge up to 16,000%, making it almost impossible for those already struggling to ever pay the debt back. That's why I've started a petition on Change.org urging members of the House of Lords to vote to cap the interest which companies can charge for these loans.

I know people need to take responsibility for their actions but I believe these companies intentionally exploit those struggling with money and something must be done. By capping interest rates at least borrowers like Karen would have a chance of getting on top of their debt.

Karen was lucky. She had a support system that could help her get out of this cycle of debt. Others are not so lucky. This Wednesday the House of Lords has a chance to do something that could help thousands of people. Please join me in asking them to take that chance.

Thank you,

Arthur

*Karen's name has been changed to protect her identity

 

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*Many Thanks

Jules

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