Check out what everyone is saying about Fair for You, featured in major news sources such as BBC News, the Independent and the Guardian.
"After Wonga's collapse, the Financial Conduct Authority has told the rest of the industry to keep rising complaints in check and to repay mis-sold loans even if it means going bankrupt.
'Jasmine Birtles, a patron of the charity Fair for You, which allows parents to buy household goods with low-cost loans, said: "I'm appalled. It's a company that preys on the poor – particularly single parents – who desperately need household goods and can't afford to buy them outright.
"The fact that they are on the high street makes it worse for mums who have to take their children in to pay their bills. Children see the shiny products on display and pester their parents to buy more.
'Communities Secretary Aileen Campbell said: "The Affordable Credit Loan Fund ensures there is a clear alternative for people to access credit and not need to turn to pay day lenders, which can often charge extortionate interest rates and leave people trapped in a cycle of debt.
Sir John stated: "Our Affordable Credit Loan Fund and national action group are seeking to bring new solutions to the affordable credit debate, with a focus on identifying sustainable, not-for-profit alternatives to the commercial high cost credit market.
Responsible Finance's latest and final report in a series designed to advance the supply of affordable credit to UK consumers looks at how existing affordable lenders have scaled, offering insight into the potential for the sector's growth. Responsible Finance's latest report presents five case studies of responsible finance providers' pathways, including Fair for You.
The Consumer Credit Awards have announced Fair for You as a Consumer Credit Awards 2018 Finalist for Best Alternative Finance Provider!
"At Fair for You, we are path makers. We want to show it's possible to deliver fairer solutions that can lift people out of the #povertypremium. To be pioneering you need brave investors, people who have the courage to sit behind you and help you knock down the barriers ahead." – CEO Angela Clement in Big Issue Invents Social Impact Report 2018.
"Using a credit union and Fair for You is definitely the best way forward for people like me that are on low incomes and don't have the best credit," says Siobhan Taylor, a FFY customer.
"According to research, over ¼ of us Brits don't have savings if we are hit by an emergency such as a broken washing machine.
Michael Sheen and others are leading a big campaign to end high cost credit in the UK […] We've found a rapidly growing not for profit personal credit company called Fair for You, that is affordable and really loved by its customers.
Fair for You is part of an alliance of organisations leading the challenge to high cost credit in the UK. The page was launched by Michael Sheen this year.
Those on the lowest incomes pay the most to borrow money even where they are borrowing for essentials. This is compared to those on higher incomes who can generally borrow at lower rates for luxuries like holidays and high-end consumer goods.
"There are many lower income families in Scotland and across the UK that cannot overcome a financial emergency such as a washing machine or fridge freezer breaking. These families often end up trapped in debt which starts with a very basic need to buy an essential item, without access to mainstream or store credit. Fair For You (FFY) was set up to create an alternative, affordable source of credit that is supportive, highly visible and flexible. It is also tailored for the needs of those who have to turn to credit to overcome household emergencies, yet need financial household stability." Read more on their website here.
The Guardian (Oct 2017) : At last, it's payback time for BrightHouse – a £600 computer can cost £2,000. But now the rent-to-own retailer has to repay £14.8m to customers.
"Laura Hutchison, who lives with her daughter Ellie in Galston, Scotland, and is on benefits, was paying off an L-shaped sofa from BrightHouse over several years but, she says, only managed £1,800 out of £2,500, so never ended up owning it. She reckons it would have cost £500-600 on the high street. "I'd never buy anything from BrightHouse again," she says.
Fair for You is hosted on the Social Enterprise Social Saturday Market Place.
Once a year Social Enterprise UK, the leading global expert on social enterprises, hosts a campaign to raise awareness of the difference companies like Fair for You are making to their communities, and encourage people to support these businesses.
"…the City watchdog this week tore a strip off "pay-weekly" retailers that target low-income families, saying it was concerned about the high costs and harmful consequences of this type of credit.
Many of us are aware that this is an expensive way to buy household items, but if you are hard-up and urgently need a bed for your child, or a cooker or new washing machine, you may feel you have no choice but to turn to a company such as BrightHouse. But the good news is that things are changing. A new breed of socially responsible companies is emerging that aim to break the stranglehold of the major pay-weekly retailers by helping poorer families to buy the things they need without having to pay a "poverty premium".
We're delighted to have been the only firm to pick-up two awards at the Consumer Credit Awards 201 7, and it's all down to our customers.
We picked up the "Consumer Credit Champion" and "Best Newcomer" awards. The awards are run by Smart Money People, and decided by customer voting, so we're particularly delighted to be recognised as a leading consumer credit business that puts customers at its heart.
Plymouth was announced as one of two social enterprise cities in the UK in September 2013. Since then, the City Council has been keen to encourage innovative social enterprises into the city.
As a social enterprise, wholly-owned by a charity of the same name, Fair for You CIC was given a grant in May 2016 to deliver an awareness-raising campaign of our offering throughout the city, and present it as an alternative to high cost lenders and rent-to-own stores.
Informed by the outcomes of our early trading experience (evaluating the results of an early pilot we ran with LB of Islington), our approach was to go direct to where we see our core demographic. Read more….
Read the blog by CEO & Founder Angela Clements introducing Fair for You, the brand & our goals.
"Fair for You shows how a social enterprise can disrupt what is a dysfunctional market, transforming it to have a positive impact on people's lives." – On 15th October Social Enterprise UK will launch Social Saturday to raise awareness of socially motivated businesses. Chief Executive of Social Enterprise UK, Peter Holbrook CBE gave us a mention on Business Comparison.
A big thank you to everyone who filled out our survey and the 44 customers who took part in our research to create this Social Impact Report. We're taking your feedback and we're using it to make sure more people & MPs understand your experiences of using credit. Download this report here.
Fair for You is a not-for-profit organisation that provides loans to people to buy household items, with options to repay weekly, fortnightly or monthly.
AdviceUK is pleased to announce the extension of its categories of affiliation and welcomes Fair for You as the first AdviceUK Associate organisation.
NEA (National Energy Action) is the national charity working to end fuel poverty in England, Wales and Northern Ireland.
A recent investigation for the BBC's Victoria Derbyshire programme saw Labour leader Ed Miliband call for better and clearer regulation of the rent-to-own sector.
"Social Investment Scotland and The Robertson Trust have invested £500,000 into ethical lender Fair for You.