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.
If you ever want to take lessons on how to get in the spotlight and then stay there – and damn the consequences – don’t look any further than the UK’s biggest payday advance lender.
It’s no true surprise that Wonga is back in the news for more atrocities against borrowers – what else is new – but new evidence says Google may be up to no good as well.
Usually there’s no dearth of horrible news when it comes to payday loan companies doing their best to drive you mad, but the past week or so has featured high street lenders.
As if having to see payday loan adverts on Red or Black? wasn’t bad enough, now Wonga is considering a foray into the mortgage lending market sometime in the future.
While the Bank of England hasn’t done so yet, the writing is on the wall – the base rate may drop by 0.25 percentage points by the end of the year, bringing cheaper loans.
If you’re in a financial bind that sees you having to make the choice between using a payday loan provider or seeking out your local credit union, the decision should be a no-brainer.
The Consumer Finance Association has announced a new code of practice for payday lenders, but is it enough to protect consumers against payday advance lenders?