Reader feedback: Avoid the debt spiral

Re: UK banks on success, Volume 10, Number 44, November 15 - 21

Is the investment of Provident Financial reported in the interview with Judith Ann MacGregor really something that Slovaks should be keen on? The company "investment" is based on charging more than 177 percent of APR on loans to low-income borrowers, and has recently been referred to the Office of Fair Trading by the UK National Consumer Council for anti-competitive practices and consumer detriment caused by the systematic "rolling over" of loans that effectively keeps borrowers caught in a spiral of debt.

Through the pages of The Slovak Spectator, we invite Slovak borrowers to contact Debt on our Doorstep (www.debt-on-our-doorstep.com), a campaign against extortionate lending, to share experience of Provident and to inform the forthcoming review of the European Consumer Credit Directive.

Damon Gibbons, Chair, Debt on our Doorstep
United Kingdom

Get daily Slovak news directly to your inbox

Top stories

News digest: Long queues around Slovakia on the first day of nationwide testing

Hundreds of thousands got tested during the first five hours. Experts warn it is too early to interpret the results.

Drive-in testing site in Bratislava.

Afraid of testing? Minimise your risk of infection with these test day tips

Coughing is the most dangerous part of the testing process.

Zborov, the Bardejov district

UPDATED: Nationwide testing for COVID-19 is on

Long queues have formed in front of most testing points since early morning. Some drive-through sites closed in Bratislava

Testing in Trenčín, western Slovakia

The big testing: When and where to show up, and what if I don't want to? (FAQ)

Here is what we know about the practicalities of the nationwide testing so far. Testing also applies to foreigners and diplomats in Slovakia.

Pilot testing in Bardejov