Firms ‘prey’ on families

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SHEFFIELD Central MP Paul Blomfield has challenged the Prime Minister to take action to protect people who are ‘overwhelmed by debt’ and to tackle high-interest pay day loan companies.

The Labour politician asked David Cameron to ‘commit to protect’ families who are taken advantage of by lenders charging extortionate rates.

Mr Blomfield said: “Will the Prime Minister now commit to protect those families who are being overwhelmed by debt?”

He said up to 40,000 Sheffield people have severe debt problems and that, despite the Government agreeing last year to ‘consult’ on action, unscrupulous lenders are still operating.

“These companies prey on desperate people. Then they fall victim to high-charging companies offering to manage their debt,” Mr Blomfield said.