Charity worries over debt levels in Northern Ireland
Debt levels are highest in Northern Ireland, according to debt charity StepChange.The clients that StepChange work with in the UK have an average debt of £15,300. In just Northern Ireland however, the...
View ArticleHull woman turns to crime to pay off payday debts
A woman in Hull has been arrested after her debts to seven payday loan companies drove her to steal from her employer.Michelle Carter, 38, reportedly racked up a debt of £7,000 with seven different...
View ArticleCalls for a blanket ban on payday loan TV adverts
A survey carried out by YouGov has reportedly found that just under 3 in 4 parents would like to see payday loan adverts banned from TV and the radio.Many adverts from payday lenders have already been...
View ArticleKing of payday lenders Wonga suffers huge profit slump
Wonga is reportedly suffering as it saw a drop in profits of over 50% on a year by year basis, showing the pressure the sector is currently under.Pre-tax profits had dropped from £84.5 million in 2012...
View ArticleWonga to write off outstanding debts of 330K customers
The BBC has reported that Wonga is going to write off millions of pounds worth of debt owed to it as part of new affordability checks.The company has suffered a lot bad press this year, the height of...
View ArticleRegulations could shut down payday lenders
The Competition and Fair Marketing Authority (CMA) has announced that it wants to see comparison websites fairly displaying the rates of all the payday lenders in order to give potential borrowers a...
View ArticleWonga delaying the promised payday loan debt waiver
Wonga have recently announced that they shall be writing off the debts of 330,000 customers who were lent to in the past.This is good news for 330,000 Wonga customers. However these customers are still...
View ArticleLogbook loans could be the new payday loans
The Citizens Advice service is warning about the risks of taking out log book loans. These loans are another form of high cost credit that is similar in principal to payday loans.Unlike payday loans,...
View ArticleBookies and gambling shops makes a dangerous combination in Glasgow
According to a report, Glasgow is the payday loan shop capital of the country.However, even more worrying, is that it is also the bookie capital. The temptation of quick cash, right next to gambling...
View ArticlePayday loan regulation could do more harm than good
The regulations requiring payday lenders to lend less money to less people could have serious ramifications for customers, a trade body has claimed. The Consumer Finance Association has spoken of the...
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