Consumer lease position paper

Good Shepherd Microfinance has published a position statement on consumer leases. The statement calls consumer leases ‘credit-in-disguise’ and suggests they be subject to the same regulations as payday lending. It also calls for the introduction of mandatory positive credit reporting for consumer lease companies, the introduction of ‘protected earnings provisions’ to all people on low incomes and a cap on the cost and length of leases.

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Our hearts and thoughts go out to everyone impacted directly or indirectly by the coronavirus pandemic.

Good Shepherd will continue to provide No Interest Loans (NILS) to people in our community who need this support. We are revising our financial hardship policy and will keep you updated. For assistance, please contact your nearest NILS provider or Good Money store.