Payday advance lenders have become more or less universally reviled, with debt advice charities and MPs alike all coming together to condemn payday loans.
Well, it’s official: the University of East London has cemented itself as my favourite institute of higher learning after banning all payday loan adverts.
Debt problems are rampant in the UK at the moment – with younger Brits hit especially hard by unemployment – yet there are some payday lenders expanding.
Thanks to impending welfare and benefit reforms, the number of households sinking into debt is more than likely to skyrocket sometime in the immediate future.
Here’s a story that will get you hopping mad: the Scottish government’s decision to increase bankruptcy costs means the poor need payday loans to afford it!
With this week marking the one-month anniversary of Christmas Day, campaigners warn that festive season debt from payday loan providers has come home to roost.
The boss of one Ilkeston-based credit union says that the dangers posed by providers of short term loans are quite real and should be avoided at all costs.
Would you think hiring a reality television star known for having debt and bankruptcy troubles as the spokesperson for a payday lender is a good idea?
The Office of Fair Trading has to stop dragging its feet and put the irons to the payday lending industry before more Brits fall into debt, one MP has urged.
One of the most controversial payday lenders in the UK announced this week that it’s delving into longer-term lending usually reserved for credit cards.