Saturday, October 19, 2013

The 'on tick' stores selling £3,400 TVs to Britain's poorest families - at eyewatering interest rates


'When I couldn't pay, they sent two heavies round'


High interest: There are 287 BrightHouse stores across the country and with plans for up to 400 more outlets, the odds are there will be one near you very soon
High interest: There are 287 BrightHouse stores across the country and with plans for up to 400 more outlets, the odds are there will be one near you very soon 

At the tail-end of a recession caused by a global addiction to credit, I can pick up a ‘rent-to-own’ TV that will eventually cost me £3,432 — with a £20 deposit and no job!


And not just in this down-at-heel part of London. I can get a similar deal at any one of 287 BrightHouse stores across the country. And with plans for up to 400 more outlets, the odds are there will be one near you very soon.


All around Britain, at sites not already snapped up by pawn shops, pay day loans stores or betting shops, BrightHouse is popping up to serve the poor and the desperate, people who usually can’t get credit anywhere else. 

In return, its customers must pay rates of interest of up to 69.9 per cent and suffer heavy-handed demands for cash or goods back when they fall into arrears.


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