Poor Hit Hard by Credit Crunch


	Poor Hit Hard by Credit Crunch

abailart

11-11-2007 4:31 AM

150 views

tags:

credit crunch, loans, poor

abailart says:

The poor have always had to rely on paying excessive interest on loans, Now they are being squeezed even there. Enter the moneylender sharks, the backstreet extortionists.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/77a91b8b-63c6-4fc7-8cd1-ea276ab486b8/C99F8ED3-0E2C-4401-BF26-5E60C4BFD908/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://money.independent.co.uk/personal_finance/loans_credit/article3149934.ece" href="http://money.independent.co.uk/personal_finance/loans_credit/article3149934.ece" style="font-size: 11px;">money.independent.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://money.independent.co.uk/personal_finance/loans_credit/article3149934.ece"><P>Consumers looking to sign up to mobile phone contracts, open a store card account or even buy from mail order catalogues could find they are knocked back as a result of the credit crunch. </p> <P>Equifax, the credit reference agency, says the current turmoil in the money markets could affect anyone making a purchase that requires a credit check – not just those taking out a mortgage or personal loan.</p> <P>"We have already heard how high street lenders are cutting credit limits and putting up interest rates, but this also applies to the smaller credit lenders," says Neil Munroe, spokesman for Equifax.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://money.independent.co.uk/personal_finance/loans_credit/article3149934.ece">"The impact of the credit crunch is not only affecting the first line of finance but now also the second line, such as phone companies, store cards and mail order,"</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/C99F8ED3-0E2C-4401-BF26-5E60C4BFD908/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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