The Loan Shop

[Ontheboardwalk]

Anyone watching the Loan Shop?

I like credit unions and the fact they help people however is it right to give a young mum a loan of £1,200 for Christmas presents at 42.4%?.

Appreciate they are much cheaper than quick quid and the like but it still seems a high repayment rate.

I just started a thread on this because I didn’t see one, oops.

I liked it though, it’s much like a provident loan too.

missmother was just going to comment on your post!

Looks like just me and you watching it.

I don’t like the way they make the people getting their loans pay their child credit direct to their loan account. That doesn’t feel right.

I know what you mean but they take so much money from you, say you get £21 child benefit and they take the loan back at £15 a week, they take the whole CB and save up all the extra £6s for you and then you get a nice little sum depending on how long you save for, it reminds me of a Credit Union that I used to be part of.

If you can live without your CB then okay but even though it’s a small amount then it sure does come in handy, especially if you get it monthly.

I agree, I got uneasy re the young mum. I felt like someone needs to tell her love isn't about buying a shit load of 'stuff'.

Most mums buy their kids lots at Christmas though, I know I do, buying lots of stuff may not be the only way to show love, but kids interpret it this way a little and it’s embarrasing for them to have to go back to school with hardly any new ‘stuff’, wrong attitude perhaps but my siblings and I were always brought up with a mother who used to skint herself at Christmas, it’s what parents do.