Loan sharks cruising poorest areas – report

Sep 27, 2020 sezyqwun 16 Feb 2012Low-income families’ struggles with debt are not due simply to bad decisions – they are often victims of an environment filled with exploitative lenders, a report says. The Families Commission report confirms that areas of high deprivation often have a high presence of alcohol shops, finance companies, fringe lenders, mobile truck shops, pokies and door-to-door sales. Some credit agencies appear to target families who can least afford it, the report says. The findings were backed yesterday by Mangere Budgeting Services Trust chief executive Darryl Evans, who said: “We’ve got everybody here, the loan sharks, the mobile trucks, the liquor truck, money lenders operating out of garages. They literally are operating out the back of $2 shops.”

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