Payday loan websites blocked on Sandwell library computers
Published 30th July 2013
Payday loan websites are now blocked on computers in Sandwell libraries.
The websites of more than 260 payday loan firms can no longer be accessed on computers at the borough's 19 libraries.
The leader of Sandwell Council, Councillor Darren Cooper, said: "The interest some of these companies charge on their loans is eye-watering. Some are over 5,000% APR.
"We know many people are struggling financially but these high interest, short term loans are not the answer."
The sites blocked on the council's 350 library computers include Wonga.com and QuickQuid.co.uk
Councillor Cooper added: "I would urge anyone who is in financial trouble to talk to Citizens Advice or charities that specialise in helping people in debt.
"Anyone who needs to borrow money should join the 6Towns Credit Union in West Bromwich. They are incredibly helpful and they lend money at a much better rate than payday loan companies.
"If you borrowed £100 from the credit union for a month, you would pay just over £1 in interest. Borrowing the same from Wonga for 28 days would cost you more than £35 in interest and fees.
"I'd like to thank Cheshire East Council who shared their list of blocked payday loan sites with us, which meant we could get them blocked from our computers quickly."
To contact the credit union go to the 6Towns website or call 0121 553 3110.
Wonga charges £135.04 (including interest and fees) to borrow £100 for 28 days (source - Wonga.com 24 July 2013)
6Towns Credit Union charges £101.16 to borrow £100 over 28 days (loan decision in 3-4 days).