Please note that the action for March 9th has been postponed
A group of women from the LRC met with activists from other groups in January to plan a debt-resistance action on 9 March 2013 to mark International Women’s Day. Through protest and occupation of the payday loan companies that have sprung up in our poorest communities, we will expose the ruthless, exploiting system of debt that has developed in this country.
In the last year the number of people considering taking on payday loans has doubled. 40% of these loans are used to buy basics such as food. These loans are a dangerous last resort for people already struggling to cope with the impacts of the Government’s austerity programme.
One in three people were unable to pay back these loans and were forced to take out a similar loan in order to keep paying. These loans, offered at interest rates of over 4000%, trap desperate people into a deadly cycle of borrowing and debt.
The belief that it is reasonable for repayment of debts to take priority over food, housing and other basics is something we have been taught to accept, not just in this country or with personal debt, but with national and international debts too. In the UK, ‘legal loan shark’ dealers push the idea that servicing their debts should take precedence over people’s basic needs. This situation is replicated across Europe as millions of people are crushed under debt-servicing austerity measures. We want our action to help build a wider movement for debt-resistance that will join with like-minded groups to resist the loan sharks, to support victims and raise public awareness on the issue of debt.
The protest will highlight the disproportionate impact of austerity and debt on women. This will be a women-led action, but we welcome and encourage support from men. If you would like to discuss this further, want more information or want to get involved, please get in touch.
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