- Tyne Tees
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Tracy Herrington is from Thrive - a debt-help charity on Teesside that is committed to tackling poverty in the North East.
She joined Pam and Ian on the sofa to talk about the problems of high-interest credit and getting into debt.
Find out more about Thrive and how they could help you here.
The Department for Business has issued a statement after the release of a report today that concluded that the number of people relying on quick, high interest loans is rising.
The Government is currently looking at whether any action needs to be taken to address the problem, and about what action it might take.
Read the full statement from them below:
The number of people relying on quick, high interest loans is rising. The Centre for Responsible Credit says companies should share information about customers who are already in debt. The change would protect low income borrowers from irresponsible lenders.
Kath Simms and Kath Carter, both from Stockton, have stuggled with loans for years. They told ITV how easy it is to fall into financial ruin.
Two women from Stockton are warning people about the dangers of high-interest loans.
Kath Carter spent 10 years struggling with loans to doorstep lenders and rent-to-own schemes.
Kath Simms has 2 rent-to-own loans and 3 or 4 doorstep loans.
She now finds that after she has paid these back, she has no money to heat the house and is skipping meals to keep costs down.
Two Stockton mothers are warning others of the risks of taking out taking out high-interest loans. They say vulnerable people are being targeted by companies who knock on people's doors and are becoming 'the norm' and 'a credit line' for those who find it difficult to live within their means.
Teesside debt charity Thrive supports hundreds of people with cash problems.
Community organiser Greg Brown says, “We try to advise people on alternatives to high interest loans. We encourage people to stick up for themselves, challenge lenders and get what they are entitled to. We know what rights people have and help send people on the right way.”