There are yet more payday lenders arriving in Walthamstow – two new shops have opened recently on the High Street, another Money Shop as well as a business called Cash Generator. As we near the end of the month and local people find their pay packets stretched to breaking point, I’m asking you to join me in this protest about their activities in our area and to help highlight affordable sources of credit in our area instead.

These new shops are the latest examples of the high-cost credit boom taking place at the moment, not just in Walthamstow but around the country. As well as these two new shops on the High St, another payday lender called Instant Cash Loans is planning to open at the site of the Arcade. As part of the campaign to increase regulation of this exploitative industry, I have been working with concerned residents and the Waltham Forest Community Credit Union to challenge local payday lenders in Walthamstow and encourage their customers to use the credit union instead.

We’ll be meeting outside the new Money Shop, 73 High St, E17 7DB at 2.30pm on Friday 28th October to hand out leaflets advising people to go to the credit union and alerting them to the costs of borrowing from these companies. The event will continue until 4pm so you can join later if you can’t make 2.30pm. If you are able to come along please can you let Will in my office know on or call 020 8521 1223.

I hope you will be able to join me in trying to protect our local consumers from these legal loan sharks,