Debt-hit soldiers are targeted by 3,300% payday loan firm in MOD"s own magazine

Debt-hit soldiers are targeted by 3,300% payday loan firm… in MOD's own magazineLoans company sold advertising space in Ministry of Defence magazine Rising concern about the number of soldiers getting into debtNew recruits earn less than 14,000 a year and private are paid 18,000 | UPDATED: 01:15 GMT, 30 December 2012 Condemned: The MoD magazine that includes the advert for payday loans from Forces Loans, a company charging an APR of more than 3,300 per cent The Ministry of Defence was condemned last night for cashing in on the debts of its poorest soldiers by selling advertising space in its staff magazine to a payday loans company