Cheaper Loans 4 You!

If you borrow from a doorstep money lender such as Provident you'll find yourself paying back a total of £910 on a loan of £500 over 52 weeks, that's an APR of 272.2% You can check this for yourself by looking at their loan calculator on http://www.providentpersonalcredit.com/.  

At Wiltshire money line, a loan of £500 will cost you £571.68 over the same period.  That's a difference of £339! "Just think what you could do with that money!"

Wiltshire Money Line will encourage people to join credit unions - this is definitely the best way as it offers both savings and responsible borrowing.  However, for some people, saving in advance is not always possible.

Anyone 18 or over who lives in Wiltshire or Swindon can apply, for a loan which will be charged at a typical APR of 26.8%. This is substantially less than payday cheques, log book loans or the doorstep options although you might find cheaper options at banks or building societies. 

Money borrowed will be based entirely on affordability, and people will be signposted if we consider  there is a better option for them.

Follow the link below to download the Wiltshire Money Line loan application form which is to be printed, completed and returned to the address on the form. You can also find more information in the Wiltshire Money Line leaflet below.

Attachments:

Wiltshire Money Line Application.doc	254 Kb	9/20/2011
WML leaflet Jan 2011.pdf	232 Kb	3/30/2011