OPINION - Online loans ruled out of bounds

HIGH interest lenders who prey on other people's financial difficulties by offering 'pay-day loans' are often compounding the problem they claim to ease.

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When there is nowhere else left to turn, many people find themselves logging on to a website which promises a quick financial fix and ready cash until the next payslip arrives.

Then, when the interest racks up, the loan is yet another burden on an already impossibly tight household budget.

There is little the council can do as the financial market is regulated by Westminster and therefore outwith its jurisdiction, but whatever action it can take must be welcomed.

Blocking access from council computers may not solve any problem but it is a statement that these firms activities are considered unhelpful and, in some cases, even predatory and encourages people to avoid their offers.

In the absence of effective regulation and legislation to outlaw such high-interest lenders, whether on the high street or on-line, any small measure to hinder their ability to heap on more misery is welcome.

In an ideal world there would be no need for these firms and it reflects badly that too many people do feel they have nowhere else to turn.

HIGH interest lenders who prey on other people's financial difficulties by offering 'pay-day loans' are often compounding the problem they claim to ease.

When there is nowhere else left to turn, many people find themselves logging on to a website which promises a quick financial fix and ready cash until the next payslip arrives.

Then, when the interest racks up, the loan is yet another burden on an already impossibly tight household budget.

There is little the council can do as the financial market is regulated by Westminster and therefore outwith its jurisdiction, but whatever action it can take must be welcomed.

Blocking access from council computers may not solve any problem but it is a statement that these firms activities are considered unhelpful and, in some cases, even predatory and encourages people to avoid their offers.

In the absence of effective regulation and legislation to outlaw such high-interest lenders, whether on the high street or on-line, any small measure to hinder their ability to heap on more misery is welcome.

In an ideal world there would be no need for these firms and it reflects badly that too many people do feel they have nowhere else to turn.

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