Payday lenders target hard-up parents with 1,600% ‘back-to-school’ rip-off loans

CASH-STRAPPED parents are being targeted with “back to school” loans by payday lenders - with eye-watering interest rates of up to 1,605 per cent. Marketing posts even encourage struggling parents with “poor credit scores” to apply to help cover essential uniforms, stationery, and shoes.But the fine print reveals the brutal cost. Manchester-based Loan Pig offers...