After a year of investigations into payday loans companies’ TV adverts, the Broadcast Committee of Advertising Practice (BCAP) has come up with new guidance on how they should behave. The advertising watchdog announced that it considers adverts which prompt you Read more…
Information provided by Post Office Money, who carried out a survey, has highlighted the difficulties some people are facing to last until their next payday. Every month, 24 per cent of employed people say they need to use their savings Read more…
A new ruling by the EU, which will come into effect in October, is causing credit card providers to reduce and cut the benefits they offer with their card, as there is a limit to the amount they can allow Read more…
The Financial Conduct Authority (FCA) is questioning payday loan company QuickQuid, amid concerns that they are not employing enough people in its British offices in order to legally be classed as an authorised lender. QuickQuid, an American-owned company with more Read more…
University graduates may be faced with tougher rules about repayments, due to the uncertainty which surrounds their long-term repayment, which carries the risk of unpaid debts causing a financial crisis. This claim is according to the Higher Education Policy Institute Read more…
Controversial payday loan provider Wonga gas announced plans to improve its image, credibility and payday loans process after a tough period, which has seen the company heavily criticised. This will include creating new adverts, which feature ‘hard-working dinner ladies and Read more…
According to recent research, people in the North West are taking out fewer payday loans than before, indicating that their popularity is falling. This information comes from R3, a trade body for insolvency practitioners, who carried out the research. They Read more…
The Financial Conduct Authority (FCA) has issued a warning about using paydayparty.co.uk, a payday loan firm which has not been authorised and is targeting customers in the UK. Payday Party claim to provide short-term loans for values between £50 and Read more…
The Archbishop of Canterbury, Justin Welby, is determined to put an end to payday loans using the Church’s funds and the goodwill of the parishioners, despite some embarrassing blunders. Justin Welby stated that he wishes to “compete” Wonga, one of Read more…
Charity Step Change has apparently supported 66,557 cases of Payday Loan borrowers who get into severe debt predicaments last year. This was an 82% increase on the amount they dealt with in 2012 (36,143). This shows the rising amounts of Read more…
Dishonest payday loans companies appear to be breaking rules
Public sector workers most likely to use payday loans
Complaints about payday loans continue to rise