Good Shepherd Microfinance, Australia’s biggest microfinance organization, has welcomed the Australian Government’s review into high expense payday advances and consumer leases, better referred to as ‘goods rental’ or ‘rent to own’.
Through its community of 1,500 microfinance employees in 670 places across Australia, Good Shepherd Microfinance and its own community partners hear firsthand the results among these cost that is high.
Ceo, Adam Mooney, said “the big greater part of individuals on low incomes merely can’t manage to be having to pay such reasonably limited for credit or even a lease”.
“We are seeing that the negative effect of pay day loans and ‘rent to’ that is own disproportionately impacting ladies who usually move to the products as a result of earnings inequality and monetary exclusion,” said Mr Mooney. Continue reading