Unscrupulous payday loan companies are pushing debt onto homeless teenagers including those with learning difficulties, and hounding them for repayment, a charity has warned.
A 19-year-old with learning difficulties was among those bombarded with aggressive text messages demanding he pay up, the youth homelessness charity Centrepoint said.
Despite Centrepoint staff estimating that the Bradford teenager had a mental age of about 10, he had been able to get a £50 loan, which was turned into a £200 debt by crippling interest rates.
Other homeless teenagers some as young as 17 have, the charity said, been left frightened to death by harassment for the repayment of debts that had been vastly inflated by high interest…
Read the full article at: http://www.independent.co.uk/news/homelesshelpline/payday-loans-homeless-helpline-centrepoint-loan-companies-lending-to-young-homeless-teenagers-greed-a7438611.html