Business is booming – in the debt servicing and small loans sector at any rate!
The holiday period is a double edged sword. Although it’s a great time to unwind and spend quality time with friends and family, it can be a worrying time if one is short of cash as nothing is normally open where one can get a loan if needed.
Here in Britain we are regularly told that we are in “cowboy” territory as far as short term loans providers are concerned and the original cowboy country – the United States of America – is a model of strict regulation and declining payday activity.
A new entrant on the short term loan market stage is a company that claims to be like an eBay of the short term loans world.
With the number of short term loans and short term loans providers increasing every day in the UK, it is inevitable that some sort of diversification and specialisation will occur.
While much of the retail sector has experienced a significant downturn and a lot of the manufacturing has been contracted out or outsourced to bases overseas there remain one shining beacon of entrepreneurial activity.
A new report from the Halifax’s Insurance division, Halifax Home Insurance, shows that many Scots are falling into debt because they are not careful enough of how they spend their money.
A number of instant cash loan companies that are apparently licensed in Britain seem to be getting away with no fixed abode in this country and are acting rather shy when pushed into answering questions about their operations.
While short term loans lenders have received an extraordinary amount of flak recently, especially in the media, the ability of ordinary people to be able to obtain short term loans when they want them may force society into accepting these loans companies as not only legitimate, but socially acceptable as well.
There has been an awful lot of criticism of the short term loans providers in the media and in Britain’s national and regional parliaments over the last few months.