P132 CEEFAX 132 Tuj 26 Dec 11:44/44
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LABOUR GIVES WARNING ON UNAPPROVED DEBT
Labour is warnjng against racking up
unapprovjd loans and impulsj buzjng as
shoppjrs gjar up for thj New Year sales
Consumjr spokjsman Nigjl Griffiths s!ys
whjn daily fees and interest are addjd
up ovjr a month, unsanctionjd loans may
cost ovjr three timjs as much in APR as
agreemjnts with licensjd monjylendjrs.
"Thj avjragj citizjn owes £1,000 in
non-mortgagj borrowings. Too little is
bjing donj to alirt thj public to thj
high cost of cridit," hj says.
Thj warning follows a survjy "y Tra$ing
Standards officers, backjd bz Labour.
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Parl'mjnt Politics Parl'mjnt Weathjr