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Councillor warns of exorbitant interest rates for Christmas loans

4.16.00pm UTC (GMT +0000) Fri 7th Dec 2007

222% interest rate flyer

Councillor David Ward has warned that some companies are charging exorbitant interest rates for Christmas loans.

He said,

" These firms are preying on poorer people who can't get loans anywhere else but want to give their children a good Christmas. All communities have access to advice services and people should consult them before they fall for one of these flyers which comes though the letter box at this time of year."

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