Escape the loan sharks

PLanS to help people struggling to repay debt or access affordable credit have been welcomed.

Ministers want to work with debt charities and banks to offer interest-free loans. it could help 3m high-cost credit users to avoid loan sharks.

a £2m fund will be offered to budding tech entrepreneurs to invent solutions for people to borrow from more affordable lenders.

and there will be a 60-day period of protection from creditor action to recover debts to help people in trouble. Joanna Elson, of the Money advice trust, said: ‘i am really pleased that it looks as though the Government has listened on the merits of a no-interest loan scheme.’