Author Archives: Matt

It has been revealed that people are falling victim to a scam through social media giant Facebook, which involves your identity being stolen and used to take out payday loans. Police have reported cyber crimes such as these taking place Read more…

The Financial Conduct Authority (FCA) has granted full authorisation to payday loans lender Wonga, after a troubled two years for the company. Wonga is the first major payday loans lender to receive the crucial licence from the FCA, and comes Read more…

Six months after being ordered to pay a total of £20 million to 92,000 customers, payday loans company Cash Genie has entered solvent liquidation. The company, registered under Ariste Holding Limited, is urging its customers to claim compensation, with 12,000 Read more…

According to figures from the Bank of England, £1.5bn was borrowed in November in the form of credit cards and loans, sparking fears that families are taking too much debt on as they pay for Christmas. Borrowing rose by 8.3 Read more…

Chancellor George Osborne has announced a proposal to introduce a new tax on payday loans companies, to help fund support for people who become victims to illegal loan sharks. Mr Osborne was speaking in place of David Cameron at Prime Read more…

Christmas could cost you as much as 72 per cent more if you use a three month payday loan, according to Citizens Advice. New research by Citizens Advice found that with a typical payday loan, taken out for three months, Read more…

The Central Criminal Court has heard how bomb-making equipment was bought on eBay after the ‘secret’ wife of a suspected Islamic State (IS) terrorist took out payday loans to fund her husband’s purchases. 24 year old Sana Ahmed Khan stands Read more…

Payday loans company Wonga will offer loans for longer terms, as it attempts to make its business more diverse after experiencing struggles since industry rule changes and regulatory fines over the last year, according to Sky News. Customers will be Read more…

CoreLogic, a data firm from America, has decided to stop operating its credit-checking services in the UK after a clampdown on payday loans lenders made its business unviable. Its Teletrack UK operations will close at the end of 2015, and Read more…

Payday loans lender Wonga was conned by fraudsters into losing £3m, a court has heard, after they stole thousands of innocent people’s identities. It was claimed that the criminals made more than 19,000 applications, each asking for loans to be Read more…