“These are my precious possessions that I’ve had to pawn because there’s no help, there’s no support.”
Clare Adams is one of a rising number of people taking out loans against things they own to pay the bills.
Over the last year there has been a 25% increase in the number of new loans from pawnbrokers, according to figures from the Financial Conduct Authority.
Over the last year there has been a 25% increase in the number of new loans from pawnbrokers, according to figures from the Financial Conduct Authority.
Pawnbroking will “likely only worsen, rather than alleviate, peoples’ financial position in the long run,” warned the charity’s director of external affairs, Richard Lane.
But since a government clampdown on payday lenders, pawnbrokers are the only route for some people to get the money they need fast.
We met Mrs Adams at Pickwick Jewellers & Pawnbrokers in South East London where she told us she felt she had no choice but to pawn her wedding, eternity and engagement rings which “mean the world” to her.
“They’ve offered me £200 so I can pay for my gas and electric and my food shopping,” she said.
“These are my precious possessions that I’ve had to pawn because there’s no help, there’s no support.”
Over the last year there has been a 25% increase in the number of new loans from pawnbrokers, according to figures from the Financial Conduct Authority.
Clare Adams is one of a rising number of people taking out loans against things they own to pay the bills.
Pawnbroking will “likely only worsen, rather than alleviate, peoples’ financial position in the long run,” warned the charity’s director of external affairs, Richard Lane.
Over the last year there has been a 25% increase in the number of new loans from pawnbrokers, according to figures from the Financial Conduct Authority.
Over the last year there has been a 25% increase in the number of new loans from pawnbrokers, according to figures from the Financial Conduct Authority.
Pawnbroking will “likely only worsen, rather than alleviate, peoples’ financial position in the long run,” warned the charity’s director of external affairs, Richard Lane.
But since a government clampdown on payday lenders, pawnbrokers are the only route for some people to get the money they need fast.
We met Mrs Adams at Pickwick Jewellers & Pawnbrokers in South East London where she told us she felt she had no choice but to pawn her wedding, eternity and engagement rings which “mean the world” to her.
“They’ve offered me £200 so I can pay for my gas and electric and my food shopping,” she said.
#039I #pawned #wedding #rings #pay #bills039
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