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Payday advances and ‘rent to possess’ under review

Payday advances and ‘rent to possess’ under review

Good Shepherd Microfinance, Australia’s biggest microfinance organization, has welcomed the Australian Government’s review into high cost payday advances and customer leases, better referred to as ‘goods rental’ or ‘rent to own’.

Through its community of 1,500 microfinance employees in 670 areas across Australia, Good Shepherd Microfinance and its own community lovers hear firsthand the effects of the cost that is high.

Ceo, Adam Mooney, said “the large most of individuals on low incomes just can’t manage to be spending such reasonably limited for credit or a lease”.

“We are simply because the negative effect of payday advances and ‘rent to’ that is own disproportionately impacting women that usually seek out the products because of earnings inequality and monetary exclusion,” said Mr Mooney.