Dealing with Debt? Steer clear of the pay day lenders!

posted 3 Jan 2014, 14:29 by Unknown user [ updated 3 Jan 2014, 14:34 ]

The New Year is a difficult time for many of us when it comes to dealing with debts, with all the pressure to buy more than you can afford over the festive season.

The temptation to go to a pay day lender such as Wonga for a quick loan to pay this month's bills will be intense, but high interest rates charged by such companies will quickly get you into even more trouble.

A recent article from the Guardian Newspaper: How to cut the cost of your Christmas Debt contains some great advice. In particular, they say:

Forget Wonga – borrow from a credit union

Our local Nottingham Credit Union can provide loans at much better rates than the pay day lenders, plus you know it is ethical and not-for-profit. They are located at 69 Maid Marian Way, Nottingham NG1 6AJ Tel: 0115 8283121 Email: info@nottinghamcu.co.uk

For more advice on dealing with debt our local resource is the St Ann's Advice Centre at the Neighbourhood Centre, Robin Hood Chase NG3 4EZ. They open Monday to Thursday from 9am to 12.10 and 1.20pm to 3.30pm. Fridays they open 9am-12.20pm. You can call them on 0115 950 6867.

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