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PAWN SHOPS AND PAYDAY LOANS-H&T pawnbrokers pull out of the market.


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Anyone had dealings with the pawn shops payday loans.

Been wondering about them for a while.

Todays news is that one is pulling out of the market.

Pawnbroker stops payday loans and describes Wonga's rates as 'ludicrous'

 

http://www.theguardian.com/money/2013/aug/12/pawnbroker-payday-loans-wonga-rates

 

H&T pawnbrokers can no longer afford to make loans at 13% rate since cheque guarantee cards withdrawn

Interest rates of 30-35% a month charged by payday lenders such as Wonga are "ludicrous", the boss of Britain's biggest pawnbroker, H&T, has said.

 

"It is well [publicised] Wonga charges 30%-35% a month. We wouldn't do that. If you ask anybody, people say that is ludicrous,"

Edited by tawnyowl
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