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higher rates on personal loans for the less well off

Published: 05/02/2009

Free Articles Directory (web) – 5th February 2009

 

Anyone who may fall into the lower income bracket and those with a poor credit record are going to have to pay higher interest rates, up to 19.9%, to enable them to borrow money for a personal loan.

 

From the Moneynet.co.uk website, Andrew Hagger, a personal finance expert said:  ‘The net effect is that the people who can least afford it end up paying more.’

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