Flaherty, J. and Banks, S. (2013) 'In whose interest? the dynamics of debt in poor households.', Journal of poverty and social justice., 21 (3). pp. 219-232.
This article examines the dynamics of credit and debt in low income households, drawing on an action research project with 24 households in the Teesside area of North East England. Despite crippling interest rates, high-cost credit sources (for example, doorstep lending, catalogue, rent-to-own and payday loan companies) are increasingly used by households that are excluded from mainstream financial services. The article discusses the range of credit sources used, reasons for reliance on high-cost credit and the exploitative practices of loan companies. It explores possible actions at household level through financial mentoring; the potential for developing alternative low-cost sources of credit; and campaigns for regulation of loan companies.
|Additional Information:||Author's post-print not to be cited.|
|Keywords:||High-cost credit, Household debt, Low income households, Poverty.|
|Full text:||(AM) Accepted Manuscript|
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|Publisher Web site:||http://dx.doi.org/10.1332/175982713X13812262277493|
|Publisher statement:||This is a post-peer-review, pre-copy edited version of an article published in Journal of Poverty and Social Justice. The definitive publisher-authenticated version Flaherty, J. and Banks, S. (2013) 'In whose interest? the dynamics of debt in poor households.', Journal of poverty and social justice., 21 (3). pp. 219-232 is available online at: http://dx.doi.org/10.1332/175982713X13812262277493|
|Date accepted:||No date available|
|Date deposited:||21 November 2014|
|Date of first online publication:||October 2013|
|Date first made open access:||No date available|
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