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Universities ban payday lenders from campus

10 Mehefin 2013

Citizens Advice has reiterated its call for a responsible short-term credit market as the NUS launches a campaign to keep payday lenders off campus.

Citizens Advice Chief Executive Gillian Guy said:

“It’s understandable universities want to protect their students from predatory payday lenders.  A payday loan can quickly escalate out of control if you aren’t earning.  Citizens Advice found 64% of loans come without any financial checks and 3 in 4 people go on to struggle to pay it back.  The industry is in dire need of a transformation from feckless firms to a responsible short-term credit market.”

Notes to editors:

  1. The Citizens Advice service comprises a network of local bureaux, all of which are independent charities, the Citizens Advice consumer service and national charity Citizens Advice. Together we help people resolve their money, legal and other problems by providing information and advice and by influencing policymakers. For more see the Citizens Advice website.
  2. The advice provided by the Citizens Advice service is free, independent, confidential, and impartial, and available to everyone regardless of race, gender, disability, sexual orientation, religion, age or nationality.
  3. To find your local bureau in England and Wales, visit citizensadvice.org.uk. You can also get advice online at adviceguide.org.uk
  4. You can get consumer advice from the Citizens Advice consumer service on 03454 04 05 06 or 03454 04 05 05 for Welsh language speakers
  5. Citizens Advice Bureaux in England and Wales advised 2.3 million clients on 5.4 million problems from October 2013 to September 2014. For full 2013/2014  service statistics see our quarterly publication Advice trends
  6. Citizens Advice service staff are supported by more than 21,000 trained volunteers, working at over 3,000 service outlets across England and Wales.