About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

6 IJCLP 14 (2018)
Responsible Borrowing and Lending in U.K.

handle is hein.journals/ijclpc6 and id is 22 raw text is: RESPONSIBLE BORROWING AND LENDING IN U.K. _Jodi Gardner,* Karen Rowlingson** & Lindsey Appleyard-** Abstract The UK has generally had a relatively 'light touch' regulatory framework for consumer credit, with the onus on the individual to behave responsibly when taking out unsecured loans. Concerns have however recently grown regarding the provision of short-term, high-cost credit,' with the actions of the lending institutions frequently labelled as irresponsible, exploita- tive and predatory. As a result, the legal and social obligations on lenders have been subject to significant analysis and reform. While the responsibility of lenders is an important issue for dis- cussion, this paper focuses on the responsibilities of borrowers looking at the issues from a legal and social policy perspectives. It begins with a discussion of individual responsibility and what might constitute 'responsible borrowing' before applying this concept to the use of high cost credit. The paper draws on a range of literature on the topic from both a legal and social pol- icy perspective, as well as analysing interviews with forty-four borrowers to examine the nature of responsible borrowing from a consumer perspective. I. INTRODUCTION This paper has three parts. The first section considers the focus in the UK towards personal responsibility, particularly in relation to welfare and benefits. It discusses the government's attempts to move citizens towards Fellow of Law, St. John's College, University of Cambridge; External Associate Member, Centre on Household Assets and Savings Management (CHASM), University of Birmingham. Professor of Social Policy; University of Birmingham; Deputy Director, CHASM. Research Fellow, Centre for Business in Society, Coventry University; External Associate Member, CHASM. Frequently referred to as 'payday loans'.

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Short-term subscription options include 24 hours, 48 hours, or 1 week to HeinOnline.

Purchase Access

Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most