Short-term money lenders provide flexible small loans for those unexpected bills, emergency shortfalls, or just a small cash injection for those who do not want to enter into a long-term financial commitment. They are only intended to cover temporary shortfalls and should not be viewed as part of a long term financial solution.
Yes, I think Stella was wrong this time. But, to me, the fact that she was prepared to take the backlash, the abuse, the threats of deselection, damnation and death was actually worth more. It was exactly that determination and bravery that made me support her in the first place. It was the same integrity that she showed when she stood up for people like me against pay day lenders or spoke for the victims of domestic violence, or refused to back down to internet trolls.
However, the thematic review should have been much clearer about when non-compliance was identified and whether the firms responsible are still trading. Until we tackle the institutional misrepresentation of the industry it will be difficult for consumers to break free of out of date financial services and embrace new technology and new attitudes to financial management.
Debt is a serious problem. It is not just a problem for those unfortunate enough to be struggling with financial difficulties, but for all of us - debt costs society £8.3billion. These costs come in the form of additional health care costs, increased welfare spending, and reduced workplace productivity.
Companies design for planned obsolescence - so that products breakdown forcing us to buy more and more often. But it was us that created psychological obsolescence. We want the newest, shiniest whatever the second it is available regardless of whether the slightly older, slightly less shiny thing is still working perfectly or is in no way demonstrably inferior.