Write to Your M.P
We are asking all supporters to write to their M.Ps to enlist their support for Early Day Motion 1280. You can see the motion and check if your M.P has signed from the link on the right of this page.
If your M.P has not already signed, then please send them a message by taking the following steps.
I am writing to ask that you add your signature to EDM 1280 - Affordable Credit. This motion urges Government and financial services regulators to conduct an inquiry into the growth of payday and other high cost lending in the UK and is being supported by the Debt on our Doorstep campaign.
Payday lending charges interest rates of over 1,000% APR and traps people in a cycle of credit dependency and deepening debt. It is expanding in the UK due to the lack of affordable credit options available to people on low incomes, a problem worsening every day with the credit crunch.
One US lender, Dollar Financial, is now trading in the UK under the name 'Moneyshop' and has over 200 stores. Whilst they face increased regulatory scrutiny in the US and Canada, no action has been initiated in the UK. I would be grateful if you would sign the motion and argue the case in Parliament for an inquiry.