Christmas spending sprees and the use of payday loan companies could lead to spiralling debts for families in Tower Hamlets, councillors have warned.
Quick fix loan providers have come under fire this year for charging abnormally high rates of interest, and Labour councillor Rachel Saunders fears people will struggle to pay off their debts after an expensive Christmas.
“If you are facing challenges this year, I would urge you to speak to experts such as Tower Hamlets Credit Union before turning to the pay day loan companies who offer no real solution”, she said.
Cllr Saunders also urged people to visit free advice centres if they are struggling with debt.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here