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.
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!
New research revealed this week that payday loan providers are benefiting from the massive overdraft charges high street banks charge to their customers.
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.
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.
Debt advice experts say that as many has half a million Londoners may be poised to take out short term loans to finance their Christmas pending this year.
After the release of new figures condemning the high interest rate short term loans industry, one Labour MP has renewed her criticism of predatory lenders.
Bit of news this week: a councilor from Haringey has had it with payday lenders, calling on the government to cap interest rates.