Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
High-street banks were yesterday branded ‘legal loan sharks’ for charging some borrowers extortionate interest rates through subsidiary companies. A new report shows people on low incomes and those with poor credit histories face interest charges as much as seven times higher than lenders’ typical annual percentage rate (APR). Lloyds TSB, Citibank and HSBC were accused of being the worse culprits.
According to the report, high-street banks and other mainstream lenders are developing highly sophisticated lending practices in an effort to take advantage of the lucrative market for so-called “sub prime” borrowers. Subsidiary companies are used to sell loans, credit cards and mortgages to those with poor credit histories, low incomes or limited assets at rates far higher than those offered by the mainstream brand.
Citibank advertises a typical APR of 7.9% on a £1000 loan over three years. But its Citibank Financial brand, which targets the sub prime market, offers an APR of up to 45.2%. Lloyds TSB advertises a typical APR of 6.4% on loans above £7500, while its subsidiary firm Black Horse Finance offers an APR of up to 44.9%.
I wanted to post it in cuttings, but only mods can; so maybe it could be moved.
Sub-prime borrower; that's me and you!
rates through subsidiary companies. A new report shows people on low incomes and those with poor credit histories face interest charges as much as seven times higher than lenders’ typical annual percentage rate (APR). Lloyds TSB, Citibank and HSBC
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