High Cost Credit Bill

Part of the debate – in the House of Commons at 9:48 am on 12 July 2013.

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Photo of Penny Mordaunt Penny Mordaunt Conservative, Portsmouth North 9:48, 12 July 2013

I congratulate the hon. Gentleman on introducing the Bill and other Members who have worked on the issue, including my hon. Friend Damian Hinds. Does the hon. Gentleman agree that often people are in such dire straits from taking out payday loans at massive credit rates that they turn to loan sharks and other disreputable creditors in order to pay back the first loan?