Party leaders urged to back credit union accounts for school pupils
CITIZENS Advice Scotland (CAS) believes all children in the country should get a free credit union account to help them avoid payday loans.
CAS has written to all the main party leaders in Scotland, urging them to agree to a new policy of providing all Scottish S1 school pupils with a £10 credit union account.
It is hoped the idea will help stop young Scots falling into crisis debt by encouraging them to save and by making them aware there are alternative lenders other than payday loans.
Caithness CAB (Citizens Advice Bureau) manager Jill Smith said: “Payday loan issues are becoming more common and we are helping a growing number of clients who have got into difficulty with payday loan agreements.”
CAS policy manager Keith Dryburgh said: “Currently one in four of all Scottish CAB cases are debt cases and increasing numbers of them are in debt to payday lenders.
“Our advisers see every day how debt really does destroy people’s lives. Not just their finances but their health and relationships too. It is particularly distressing to see young people in this sort of crisis and, sadly, we find young Scots are among the groups most vulnerable to it.”
For more information go to www.cas.org.uk/publications/mayday-payday