Pay day loan companies had been straight right back into the shooting line week that is last their sky-high costs, their targeting of susceptible people who cannot manage to make repayments on time, as well as allowing loans to move over whenever borrowers go into difficulty.
Try to find low-cost means of borrowing before choosing a loan that is paydayPIC POSED BY MODELS) GETTY
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The bosses of three companies (Wonga, QuickQuid and Mr Lender) faced questions about their working techniques from MPs in the Commons Business, Innovation and techniques choose Committee included in a crackdown in the short-term financing sector.
MPs were following up a workplace of Fair Trading (OFT) report that found “deep-rooted” problems in the manner payday loan providers treat clients. Continue reading Searching for cheaper credit options: options to pay day loan