Payday lenders show that they can offer a responsible loans service

There has been an awful lot of criticism of the short term loans providers in the media and in Britain’s national and regional parliaments over the last few months, but some individual short term loans providers are standing up and proving that they are able to provide people with a useful and responsible service.

One new short term loans company that has just been launched is called iDosh.com and claims it is doing everything that the critics have asked for.

iDosh’s CEO and founder, Daniel Goss, says that the new company has looked into public perception of the industry and feels that it passes all the tests of a responsible short term loans provider with flying colours.

Goss says that it is in the interests of the company for borrowers to be able to pay their loans back on time and it has been set up so that customers are able to be genuinely helped to be able to obtain a small loan to last them until they next get paid.

For one thing, it only provides loans for people who are employed and are earning a minimum of £ 850 per month in take home pay. iDosh claims that it institutes a rigorous credit checking procedure, which helps the new company to avoid giving out loans to people with chronic debt problems. It says that it has an “ethically based” loans policy, which distinguishes it from other short term loans providers.

The idea is that users of the service are in need of an emergency payment, but think that they will be able to pay it back after only a short time.

He says that the company wants to be a good example to the rest of the short term loans industry and show that short term loans providers can act responsibly.

iDosh claims that its advertising is entirely transparent. This means in practice that any customer that reads the advertising will know up-front exactly what they have to pay back when they take out a short term loan. For instance, if they borrow £100 for a month, then they will have to pay back £30 on top off the amount that they have borrowed. The website claims that the amounts are made very clear when the application is made.

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