麻豆约拍

Google is banning adverts for so-called payday lenders. These are companies which offer short-term loans, normally of quite small amounts of money, at eye-wateringly high interest rates. These are often above 1000% APR, which means if you didn't pay the money back within a year, the amount of money you owe would multiply by ten-fold. But they are legal businesses. And if cash-strapped consumers can't find a payday loan, they may instead turn to an illegal loan-shark. To discuss the issues, Alex Ritson spoke with Russell Hamblin-Boone, Chief Executive of the Consumer Finance Association, the UK industry body for payday lenders, and first Peter Tutton, head of policy at Stepchange, one of the UK's largest debt charities.

(Picture: A payday lending shop. Picture credit: Getty Images.)