Dispatches - Christmas on Credit (2009)

original uploaded by evil-koala
DOCUMENTARY: Dispatches
On: Channel 4 (4)
Date: Monday 7th December 2009
Time: 20:00 to 21:00

Christmas on Credit.
As banks and building societies close their doors to all but the least "risky" borrowers, Dispatches reporter Jane Moore investigates a highly-lucrative financial industry that has stepped in to provide loans to the millions of people denied credit elsewhere. She discovers that many of the loans offered by some of these doorstep operators, payday lenders, and rent-to-buy companies come with sky-high interest rates that can financially overwhelm families already steeped in debt. And the sting in the tail is that these loans are entirely legal. While the Bank of England's rate remains at an all-time low, these companies are able to charge whatever interest they like. The programme asks why the Government has resisted calls to impose interest rate "caps" on the various loans on offer, allowing the market to be so under-regulated that foreign loan companies are switching their operations to Britain.

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