Epetition-End the legal loan sharks. Let the govt know how you feel.Biteback time.

[Tawnyowl]

Daily Mirror Launches E-Petition to End Legal Loan Sharking In Time For Christmas:

Please Sign and Share!

 

Hello!

The Daily Mirror has posted a new e-petition on the Government's site in support of our campaign to tackle the problems caused to consumers across the country by legal loan sharking. If 100,000 people sign it, the Government will be forced to take action at last on the growing problem of high-cost credit. You can find the petition here:

http://epetitions.direct.gov.uk/petitions/20219

With Christmas around the corner, Britain's high-cost credit industry is gearing up for another bumper festive season. New research shows that since 2009 there has been a fourfold increase in the numbers of people getting into debt problems as a result of taking out loans with payday lenders, home credit providers and hire purchase agreements.

Yet despite this evidence the Government is delaying taking action to regulate these firms, appearing not to notice the speed at which this problem is growing and avoiding discussing the matter in parliament. Now with Christmas on the way and the rising cost of living, families are facing even more pressure on their incomes. Whilst other countries offer protection to their citizens through caps on the costs of credit, the UK Government has ruled out any action on these firms before the end of 2012.

This petition is the only way we can make the Government confront this issue in time to protect British consumers this Christmas. Please circulate this link as widely as possible so we can bring an end to legal loan sharking.

http://epetitions.direct.gov.uk/petitions/20219

 

 

Stella Creasy

Labour and Co-operative MP for Walthamstow

 

Let all your friends,community centres social networking sites,credit unions whatever you can think of know about this worthwhile epetition.Time to let the government and the legal loan sharks we have had enough of been preyed on BY ???? .I will let you think of a word to use.Tawnyowl.

[Tawnyowl]

Government breaks promise to end rip off bank charges- Stop them feeding the Legal Loan Sharks!

 

 

http://epetitions.direct.gov.uk/petitions/20219

Hello!

 

The Government has today finally published the first stage of its long overdue Consumer Credit Review - and its not good news for millions of vulnerable people in Britain now struggling with debt as the cost of living rises.

 

They have backtracked on commitments they made in the coalition agreement to tackle unfair bank charges and to cap excessive interest rates on credit cards and store cards. By refusing to act on these charges the Government is doing nothing to cut off the financial food chain that is feeding illegal and legal loan sharking.

 

In the last month alone, Britons have increased their debts by £629 million. The Office of Budget Responsibility predicts that by 2015 UK households will have amassed over two trillion pounds worth of debt. These figures sound frightening – but it is worth noting the OBR recently revised its estimate for personal debt levels in 2014 upwards by £245bn. There is no guarantee these numbers are not a low prediction of the debt mountain Britain now faces.

 

You can read my article on the consequences of the Government's u-turn here. I'm calling for caps on the costs and better regulation of all forms of credit - even one Government minister agrees with me - but without a show of support from the public the Government will continue to avoid taking action to protect British consumers.

 

Please sign this e-petition and share this email with friends and family across the country - send a message that you want your Government to stop feeding the legal loan sharks.

 

 

 

 

Stella Creasy

Labour and Co-operative MP for Walthamstow

[Tawnyowl]

Re: End Legalised Loan Sharks.

4444444444444444444444444 4444444444444444444444444 44 4444444444444444444444444 444444444444444444444 Exclusive: New Research shows 3.5 Million at Risk from Legal Loan Sharks in Next 6 Months- Act Now !

 

 

 

 

http://epetitions.direct.gov.uk/petitions/20219

 

New figures released today by

R3, the insolvency body

, will show 3.5 million Britons expect to need a payday loan

to make ends meet in the next six months.

This is nearly equivalent to the entire adult population of Scotland

. The data also shows 32% of those taking out payday loans are doing so to pay for other payday loans- highlighting the spiral of misery this unregulated market is causing across our country. Capping the costs of credit as they have in many other countries would offer protection to milions of Britons from these extortionate rates in these difficult economic times.

 

 

That's why I'm asking for your help to tackle legal loan sharking by doing three things.

 

 

• Please sign the petition calling for a cap on the total costs of credit - if 100,000 people do this Government will be held to account for delaying action on these problems. You can find the link here:
  http://epetitions.direct.gov.uk/petitions/20219
  
  
• Please take a moment to tell your MP you think enough is enough and we have to stop personal debt spiraling in the UK. There is a suggested text below to use and you can find out who your MP is here:
  http://findyourmp.parliament.uk/
  
  
• Share this email with everyone you know
  and ask them to do the same three actions - in the face of a well funded legal loan shark industry campaign against these proposals only through the help of people like you can we get the message out about what would tackle these problems.
  
  

The

Debt Advice Foundation

charity research shows one in four people who take out a payday loan need the money to buy food or essentials for their household, with 44% using them to pay off other debts. In addition, Citizens Advice have recorded a fourfold increase in the numbers of people getting into debt problems as a result of borrowing from payday lenders in the space of just two years. Today's evidence is further proof that without regulation millions of Britain's will suffer financial hardship

as the Government delays taking action.

 

Tell the Government enough is enough - join this campaign by taking on these three tasks and s

end a message that you want your Government to stop feeding the legal loan sharks.

 

 

 

 

Stella Creasy

Labour and Co-operative MP for Walthamstow

 

 

P.s. You can use this quick link to help

forward this email to friends and family around the country

so that we can share this petition as widely as possible-

http://epetitions.direct.gov.uk/petitions/20219

 

 

Suggested text for your local MP

 

 

Dear XXXX

 

 

In the light of new evidence of the problems facing families across the country, I'm writing to you as my MP to urge you to support the call for caps on the costs of credit. This new data shows just how desperate millions of British families now are thanks to the mounting cost of living, cuts to wages and rising unemployment- and how legal loan sharks are taking advantage of these difficulties.

 

 

Independent research by R3, the insolvency body, shows one in six of us are now what they call ‘zombie’ debtors, able only to service the

interest

on our debts, but not reduce them. 45% of us are now in financial difficulties- a figure that rises to 62% amongst younger people. This isn’t broken Britain, but broke Britain – and it is being bled dry by the legal loan shark industry and their interest rates of 1,700% or more. R3 highlight how in the next six months alone, a whopping three and a half million of us expect to take out a payday loan. In an unregulated credit market, the research shows just how financially dangerous this is, revealing 32% of those who took out a payday loan couldn’t pay it off, so had to get another one. This is not just bad for these families, but bad for Britain. As more and more household income is sucked into paying interest on these loans so the public are left with less money to spend, hurting an already anaemic economy.

 

 

The evidence is clear about the problems this kind of lending is causing to our country and what could be done about it. In other countries caps on tehe costs of credit have helped tackle these extortionate rates and protected consumers but so far the Government has opposed these measures. Please ask them to change their mind and support a cap. As my MP I ask you to write to Ed Davey, the Minister responsible for Consumer Credit to tell him to act now and cap these costs before things get any worse. Please let me know what response you get.

 

thank you

[Tawnyowl]

Make 2012 the year you take a stand against debt in our communities - and here's how to help in E17

 

 

 

http://epetitions.direct.gov.uk/petitions/20219

 

For families across Britain, this will not be a happy new year. The cost of living continues to rise along with unemployment, and combined with the bills from Christmas, January is looking financially painful for many. David Cameron calls for British spirit to see us through 2012, but stands by whilst half of all British families fall into debt and are then targeted by the legal loan shark industry. As our high street shops go into administration, it seems only the payday lenders and pawnbrokers are thriving under such leadership. Those families struggling now deserve better in 2012. So too does Britain.

 

 

That's why this month I'm asking for your help not only to campaign for caps on the cost of credit, but also to share ideas on how to protect communities from the consequences of these pressures. In Walthamstow we're trying to do this in the following ways:

• On
  Friday 20 January
  leafleting outside our local legal loan sharks to highlight the affordable alternative in our credit union. Can you join us at 1pm in Walthamstow High Street - just reply to this email to sign up to help.
  
  
• On the morning of
  Tuesday 24 January
  running a training session on debt advice to spread knowledge about what services are available to support local people in financial trouble. If you would like to attend this free workshop so you can help others it will be in the morning in central Walthamstow. Just reply to this email to sign up.
  
  
• On
  Saturday 28 January
  joining forces with the 'heat or eat' scheme to collect donations of non-perishable foodstuffs for local families faced with either feeding their children or paying their heating bills. Organised by a local Surestart Centre, this event will be between 11.30am and 2pm in Walthamstow High Street - if you can join us on the day to help encourage donations or would like to make a donation yourself just reply to this email.
  
  
• On
  Friday 3 February
  running a financial education session at a sixth form college, to equip young people with budgeting skills. If you are from a local school or college in Walthamstow and would like to hold a similar session for your students please get in touch.
  
  

With nearly four million Briton's predicted to take out a payday loan to help make ends meet in the next six months alone, the lack of Government action to tackle these firms is pushing families across Britain into debt. Here in Walthamstow with your help we can try to limit the damage- and if you would like examples of the materials we are using or details of the events we are running here to copy in your own area this January please do let me know.

 

 

 

 

Stella Creasy

Labour and Co-operative MP for Walthamstow

 

 

P.s.

Don't forget to s

end a message that you want this Government to stop feeding the legal loan sharks by signing this petition calling for caps on the costs of credit and sharing it with others

-

http://epetitions.direct.gov.uk/petitions/20219

[Tawnyowl]

Newsflash: Ken Livingstone Joins the End Legal Loan Sharking Campaign - Photocall Thursday 9 February 2012 Walthamstow Hoe Street

 

Hello!

I'm writing to ask if you can join me and Ken Livingstone this coming Thursday 9 February at 10.45am outside the Moneyshop on 187 Hoe Street in Walthamstow to highlight his pledge to join our campaign on tackling legal loan sharking in Britain.

 

Last year

Boris Johnson controversially chose the online payday lender Wonga to sponsor travel on New Year’s Eve and continues to allow such companies to place highly prominent advertising across the London transport network. In contrast Ken Livingstone has pledged to reject high-cost lending advertisements from Londons travel network until there are caps on the cost of credit.

Ken has also stated he would reverse City Hall’s ‘hands off approach’ to rising levels of debt. It’s time for London to have a Mayor who will stand up to these firms, and help support those organisations committed to supporting those in our communities struggling with debt such as credit unions and debt advice charities. The latest figures show Londoners suffer from higher than average personal debt levels and are much more likely to have taken out high-interest loans.

If you can join us for this photocall on Thursday please get in touch - we aim for this event to take no more than twenty minutes of your time and would welcome anyone wishing to show their support for this campaign.

If you would like more information about this pledge and the impact of high cost credit on London please do let me know- together we can and we will tackle legal loan sharking!

 

 

Stella Creasy

Labour and Co-operative MP for Walthamstow

P.s. If you can't attend this event please don't forget to circulate our petition to tackle legal loan sharking and encourage anyone in the UK to sign it - you can find this here: http://epetiti

[Tawnyowl]

Hi Determinator,

Just read your post.Yes i have some bits and pieces.Back in a mo.

http://lockerz.com/s/182073691 Stella Creasy and Ken Livingstone and supporters outside the money shop in Walthamstow.

Bit more press coverage here- http://www.guardian-series.co.uk/new..._money_lender/

A lot more here-

Ken visits Walthamstow to challenge Boris on Legal Loan Sharks

 

 

Labour’s candidate for London Mayor Ken Livingstone visited Walthamstow today to show his support for action to tackle legal loan sharking in the city. If elected, Ken has pledged to ban payday lending adverts on the London travel network until a cap is introduced on the total cost of credit. He came today to meet local MP Stella Creasy who has been leading on this issue in parliament and residents who have been campaigning in the capital to promote alternative affordable credit.

The current Mayor of London Boris Johnson controversially chose the online payday lender Wonga to sponsor travel on New Year’s Eve 2010 and continues to allow several of these companies to place highly prominent advertising across the London transport network. Speaking outside the Moneyshop Store in Walthamstow which is their London regional headquarters Stella Creasy MP said,

“Because the cost of living in the capital is so high and unemployment is rising, our city now suffers from higher debt levels than the rest of the country. These companies are profiting from this and there are now ten of these companies in Walthamstow’s high street alone as well as hundreds of on line firms offering these products. Consequently the proliferation of payday lenders, pawnbrokers and home credit providers without effective regulation is leading to thousands of Londoners getting into severe debt problems.”

“I want to thank Ken for coming to Walthamstow today to see the problem for himself and for his leadership on this issue in pledging to support this campaign. By taking the stand he has he is sending a strong signal to both the companies and the Government that British consumers deserve the same protection other consumers across the world enjoy of a cap on the costs of borrowing from these firms. Boris Johnson has so far ignored my calls for a similar pledge – which tells you who really cares about the financial fortunes of hard pressed Londoners.”

“Rather than shrugging his shoulders or taking their money, the Mayor should be leading the charge to regulate the high-cost credit industry and in doing so providing much-needed support for financially vulnerable Londoners. I’m going to keep pushing in parliament for legislation to cap the charges of these companies- I hope other Londoners will call on our Mayor to do the right thing and help the battle to end legal loan sharking.”

Ken Livingstone said,

 

“The Mayor should use the influence and resources of City Hall to promote responsible lending and alternatives to high-cost loans such as credit unions.”

http://epetitions.direct.gov.uk/petitions/20219

Edited February 10, 2012 by tawnyowl

[Tawnyowl]

#Amd87: Ask Your MP to Support Powers to Cap the Cost of Credit and Tackle Legal Loan Sharking

 

Hello!

I'm writing to let you know that an amendment has been tabled to the Financial Services Bill that could help tackle the problems caused by legal loan sharking. Please ask your MP to either co-sign this amendment or ask their colleagues on the committee to support it.

The Financial Services Bill covers many issues including reforming the way banks are regulated and the creation of a new Financial Conduct Authority. Crucially the new FCA will also oversee consumer credit – and have the power to act to address ‘toxic’ financial products which cause detriment to consumers. Labour members of the committe debating this Bill have tabled an amendment that would give the regulators the power to cap the charges any company can levy for credit to prevent such detriment – so capping the costs of credit and sending a strong message that excessive prices for credit will not be tolerated because of the problems they cause consumers. It is Amendment 87 and refers to Clause 22 of the bill – you can read my speech about these proposals here.

 

This amendment will be debated in committee in the coming days so it is vital to contact your MP as quickly as possible to ensure they are aware of this opportunity to tackle legal loan sharking. There are 18 MPs on the committee who can vote for this amendment who are listed below along with a sample text to send your MP. You can find your local MP's contact email address here - please also share this email with friends and family and encourage them to write to their MPs as soon as possible as well to show the strength of feeling about the need to tackle legal loan sharking in the UK. You can also use #Amd87 if you tweet about this proposal to help highlight this campaign – together we can tackle legal loan sharking!

 

 

Stella Creasy

Labour and Co-operative MP for Walthamstow

Suggested text to send to your local MP

Dear XXX

As one of your constituents I'd like to let you know about my support for amendment 87 to the Financial Services Bill currently being debated by parliament. This would give the new financial regulators the ability to cap the excessive costs of credit and so help tackle legal loan sharking. Giving these new powers to this body to address the conduct of this industry and the costs of financial products like payday loans would send a strong message to this industry about the rates of interest that are acceptable to charge. It could therefore make a real difference to the millions of Britons now struggling financially who are borrowing from these companies to make ends meet by encouraging firms to cut their charges.

Please co-sign Amendment 87 and encourage your colleagues who are on the committee to vote in favour of this amendment when it is debated in the coming days. The MPs on the committee are listed below for your information- thank you in advance for your support for these proposals and the campaign to tackle legal loan sharking.

Members of the Financial Services Bill :

 

• Karen Bradley- (Staffordshire Moorlands)
  
• Lorely Burt (Solihull)
  
• Mark Durkan (Foyle)
  
• Chris Evans (Islwyn)
  
• Yvonne Forvargue (Makerfield)
  
• Mark Garnier (Wyre Forest)
  
• Stephen Gilbert (St Austell and Newquay)
  
• Sheila Gilmore (Edinburgh East)
  
• Fabian Hamilton (Leeds North East)
  
• Matthew Hancock (West Suffolk)
  
• Greg Hands (Chelsea and Fulham)
  
• Mark Hoban (Fareham)
  
• Cathy Jamieson (Kilmarnock and Loudoun)
  
• Chris Leslie (Nottingham East)
  
• Jesse Norman (Hereford and South Herefordshire)
  
• Teresa Pearce (Erith and Thamesmead)
  
• David Rutley (Macclesfield)
  
• Alok Sharma (Reading West)
  

[Tawnyowl]

#SaveBianca! Ask Your MP to vote for the End Legal Loan Sharking Amendment to the Financial Services Bill on Monday 23 April 2012!

 

Hello!

I'm writing to let you know that tonight I have tabled an amendment to the Financial Services Billl which has cross party support including Conservative MPs. This would give regulators powers to tackle the problems caused by legal loan sharking. Please help this become law by asking your MP to join us and vote for this amendment next Monday 23 April 2012.

The Financial Services Bill covers many issues including reforming the way banks are regulated and the creation of a new Financial Conduct Authority. Crucially the new FCA will also oversee consumer credit – and have the power to act against companies who offer ‘toxic’ financial products. This amendment to Clause 22 would give this new body specific powers to cap the charges firms make for credit.

 

Fines will only have a limited impact on an industry which is making millions lending money at astronomical rates of interest to British families given the demand for their services in our current economic climate;an industry where in last year alone one firm posted a pre-tax profit of £162m, and another paid its chief executive £1.6m. On the otherhand, capping their charges could send a strong signal about what costs of credit will be tolerated in the UK. Its the first step towards securing industry wide caps on the total costs of credit, and so giving British consumers the same protection from these loans that others around the world enjoy.

Below is a sample text to use to email your MP to ask them to support this amendment - you can find the contact details of your MP here. You can also help by tweeting about the campaign using the #savebianca hashtag in reference to the current Eastenders storyline on this subject!

Help me make a difference to the families in our communities struggling financially because of these companies by taking action- let's together end legal loan sharking in Britain!

 

 

Stella Creasy

Labour and Co-operative MP for Walthamstow

p.s. Please also

share this email with your family and friends to ask them to do the same- we only have until Monday 23 April to try to lobby all MPs to ask them to defy the Government and support this amendment!

Suggested text to send to your local MP

Dear XXX

As one of your constituents I'd like to ask you to vote for the amendment to Clause 22 of the Financial Services Bill which will be debated on Monday 23 April. This amendment will help the fight against legal loan sharking in Britain. It has been tabled by Stella Creasy MP -and has support from MPs in different parties including the Conservatives- and would give the new financial regulators the ability to cap the excessive costs of credit. In an industry making so much money from lending to people in this way, fines will do little to curb their behaviour-

one firm posted a pre-tax profit of £162m last year, and another paid its chief executive £1.6m. On the otherhand, giving the new regulator explicit powers to cap the charges they can set would send a strong message to this industry about the costs for loans that should be considered acceptable and the way they can treat British consumers. It could make a real difference to the millions across our country now struggling financially who are borrowing from these companies to make ends meet by encouraging firms to reduce their charges.

I know many MPs agree this industry is out of control in our high streets and online- I hope you will join with your colleagues in the fight to end legal loan sharking in Britain and I look forward to reading that you voted for this amendment,

[Tawnyowl]

#SaveBianca! Ask Your MP to help end legal loan sharking on Tuesday 22 May 2012!

 

Hello!

The vote for proposals to tackle legal loan sharking will take place on Tuesday 22 May 2012. Please ask your MP to vote for amendment 40 of the Financial Services Bill and help give British consumers the same protection from payday loan companies other consumers across the world enjoy!

In a House of Commons debate in April the Government Minister responsible for this bill Mark Hoban agreed the Financial Conduct Authority should be able to regulate the cost of the credit, but refused to back this amendment which would explicitly authorise the FCA to do this. They plan to tell their MPs to vote against it and so stop this proposal becoming law.

Independent consumer legal advisers are clear – without explicit authority to do this the regulator will struggle to use new powers as these companies will contest any such action in the courts. The Office of Fair Trading has also admitted the involvement of ‘expensive lawyers’ in cases has influenced their ability to act, highlighting the need to address this problem.

This amendment is a key tool in the fight to tackle legal loan sharking - Fines will only have a limited impact on an industry which is making millions lending money at astronomical rates of interest to British families. On the otherhand, capping their charges could send a strong signal about what costs of credit will be tolerated in the UK. Its the first step towards securing industry wide caps on the total costs of credit, and so giving British consumers the same protection from these loans that others around the world enjoy.

Below is a sample text to use to email your MP to ask them to vote for this amendment - you can find the contact details of your MP here. You can also help by tweeting about the campaign using the #savebianca hashtag in reference to the recent Eastenders storyline on this subject!

Help me make a difference to the families in our communities struggling financially because of these companies by taking action- let's together end legal loan sharking in Britain!

 

 

Stella Creasy

Labour and Co-operative MP for Walthamstow

p.s. Please also

share this email with your family and friends to ask them to defy the Government and support this amendment on Tuesday!

Suggested text to send to your local MP

Dear XXX

As one of your constituents I'd like to ask you to vote on Tuesday 22 May for an amendment 40 to Clause 22 of the Financial Services Bill to help tackle legal loan sharking.

In an industry making so much money from lending to people at excessive rates of interest, fines will do little to curb their behaviour-

one firm posted a pre-tax profit of £162m last year, and another paid its chief executive £1.6m. On the otherhand, giving the new regulator explicit powers to cap the charges they can set would send a strong message to this industry about the costs for loans that should be considered acceptable and the way they can treat British consumers. It could make a real difference to the millions across our country now struggling financially who are borrowing from these companies to make ends meet by encouraging firms to reduce their charges.

Ministers claim they support the spirit of the amendment but refuse to vote for it- legal advisors are clear that without explicit powers to act, these companies will be able to challenge action in the courts. Don't let the fight against legal loan sharking become a fee generating opportunity for lawyers- please vote for this amendment on Tuesday and join the fight to end legal loan sharking in Britain.

I look forward to reading that you voted for this amendment,