Protecting low-income borrowers in the credit crisis

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Protecting low-income borrowers in the credit crisis

In 2008, as the financial crisis hit, our Executive Director, Damon Gibbons, teamed up with Ian McCartney MP to write a briefing focused on the need to protect low income borrowers. The report coined the term 'credit dependency', to describe the relationship with high cost legal lenders, and called for caps on the cost of credit, greater focus on affordable lending, and action to tackle illegal lenders.

Report
Event

Protecting low-income borrowers in the credit crisis

In 2008, as the financial crisis hit, our Executive Director, Damon Gibbons, teamed up with Ian McCartney MP to write a briefing focused on the need to protect low income borrowers. The report coined the term 'credit dependency', to describe the relationship with high cost legal lenders, and called for caps on the cost of credit, greater focus on affordable lending, and action to tackle illegal lenders.

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HOW CAN YOU HELP

Our work makes a real difference to lower income households. We were leaders in the campaign for caps on the costs that payday lenders and rent-to-own firms can charge, which has saved borrowers an estimated £150 million per year since 2015. And our FlexMyRent project could eliminate the need for social housing tenants to incur any interest at all.

Most recently we have been supporting the We are Debt Advisers campaign from our own revenues.   We therefore welcome donations, of any size, which we can put towards current and future campaigns.
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