Five Questions On: Payday loans brokers

Are payday loans brokers different to payday lenders?

Cheap credit websites slammed by Financial Ombudsman

Websites that take hundreds of pounds from unwitting consumers on the promise of finding cheap credit, only for the loans never to materialise, have been slammed by the Financial Ombudsman.

More than one in four adults forced to borrow money from family members

More than one in four adults has been forced to borrow money from family members. And it’s not just a matter of a few quid: new research published today suggests the average amount lent to parents, siblings and children is £2,123.

Five Questions On: Mortgage-style student loans

Hang on, wasn't there a scandal about this when the government sold off the loans to a debt collection company?

Pre-paid card aims to help the hard-up with lower fees and charges

Pre-paid plastic cards are growing in popularity, but can prove expensive. They’re proving popular particularly among people who can’t access mainstream finance as, because they’re Visa or Mastercard backed.

Simon Read: Fewer payday lenders means fewer victims of debt woes

Of course I feel sorry for the 120 workers in the North-west who have suddenly lost their jobs this week because of the collapse of their employer. But the fact that their employer was a payday lender means my sympathy is tempered.

Simon Read: Yes, no-interest loans do exist

Are interest-free loans the answer to how we help struggling people? It's not a rhetorical question: there actually is a scheme in the UK that does just that.

The ASA has told Peachy Loans to scrap their advert

More payday lenders slammed and banned for irresponsible adverts

Three more payday loan adverts have been banned today. They include one from a short-term lender that tried to differentiate itself from payday loans, but which has been rapped by the Advertising Standards Authority for producing irresponsible advertising.

Interest-free credit helps local people battle loan sharks

Are interest-free loans the answer to the question of how we help struggling people? That’s not a rhetorical question or silly one: there actually is a scheme being operated in the UK which does just that.

Lenders have been accused of persuading vulnerable people to borrow expensive credit

Payday loan firms accused of bombarding vulnerable people with nuisance phone calls

Payday loan firms have been accused of bombarding financially vulnerable people with nuisance phone calls, after a debt charity reported that a third of its clients were plagued by the messages.

Simon Read: Yet again payday lenders prove their irresponsibility

Will payday lenders ever stop their irresponsible advertising? Another one was slammed this week for encouraging consumers to take out a short-term loan for frivolous spending.

Payday lenders fined and banned over irresponsible advertising

Will payday lenders ever stop their irresponsible advertising? Another one was banned and slammed today for encouraging consumers to take out an expensive short-term loan for frivolous spending.

Ian Jordan took his own life when he was unable to cope with payday loan debts, which spiraled out of control. The man in this picture is a model

Grandfather took his own life after racking up £20k of debt with a dozen payday loan companies, inquest hears

Ian Jordan, a grandfather described by his daughter Samantha as the “life and soul of the party” was unable to cope with payday loan debts which spiraled out of control, and took his own life, an inquest has heard.

Ban on payday loan 'excesses'

The Financial Conduct Authority is to force payday lenders to limit how much they charge. The City watchdog said that, from 1 January next year, interest and fees charged by short-term lenders must not exceed 0.8 per cent per day of the amount borrowed.

Simon Read: Signs at last of payday clean-up

Britain's most profitable payday lender, Wonga, announced a new chairman this week. He's a former insurance chief who says he hopes to revive the firm's reputation.

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