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Pay day loans and rent to possess under review

Good Shepherd Microfinance, Australia’s microfinance organisation that is largest, has welcomed the Australian Government’s review into high expense pay day loans and customer leases, better known as ‘goods rental’ or ‘rent to own’.

Through its community of 1,500 microfinance employees in 670 areas across Australia, Good Shepherd Microfinance and its particular community lovers hear firsthand the effects of those cost that is high.

Ceo, Adam Mooney, said “the big almost all people on low incomes merely can’t manage to be having to pay such reasonably limited for credit or even a lease”.

“We are simply because the negative effect of pay day loans and ‘rent to possess’ is disproportionately impacting ladies who usually seek out the products because of earnings inequality and economic exclusion,” said Mr Mooney.

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