Feeling in a bit of a panic with what’s been spent over the festive period?
As part of the Scottish Government’s 12 Days of Debtmas campaign, people are being urged to avoid financial misery this New Year by considering their local credit union if they need to borrow money.
Payday loans are seen as a quick fix but often have interest rates of more than 5,000 per centAPR. However, credit unions are restricted by law to lending at a maximum of two per cent per month (26.8 per cent APR), with many offering lower preferential rates.
Read more on this story in the January 2 edition of the Midlothian Advertiser, out now.