Manchester Withington MP Jeff Smith encouraged constituents to look into ‘Fair for You’, a new social enterprise providing an ethical alternative to high-cost finance.

‘Fair for You’ aims to deliver access to affordable and flexible credit to those families who have previously relied upon high cost credit options such as Bright House or The Money Shop.

Organisations such as the Joseph Rowntree Foundation have shown that those on low and insecure incomes typically borrow at rates between 100% and 400%.  The rates are often high as those on low income tend to borrow smaller amounts with weekly repayments, which commercial credit companies view as high risk loans.

‘Fair for You’ aims to tailor their credit options to the needs of low-earners.  There are no fees on the loans, the repayment plans are flexible and they work closely with welfare advice charities which can help if a customer misses a payment.  The scheme is backed by Church Action On Poverty and the Campaign for Responsible Credit.

Commenting on the scheme, Jeff said: ‘High cost credit offered at inflexible terms is one of the leading causes of long-term poverty.

Initiatives such as ‘Fair for You’ allow those on low incomes to buy essentials such as washing machines and sofas without becoming further and further in debt.

For all those who have had difficulties with accessing affordable credit in the past, I’d recommend checking out Fair for You’

Find out more about the services ‘Fair for You’ offer on their website.