A new survey says that 1 out of every 20 families in the UK falls under the payday loan curse, but there’s hope: some people are banding together to fight.
Tag Archives: payday loan
People need a payday loan to declare bankruptcy in Scotland
Here’s a story that will get you hopping mad: the Scottish government’s decision to increase bankruptcy costs means the poor need payday loans to afford it!
Overdraft charges pushing people to take out payday loans
New research revealed this week that payday loan providers are benefiting from the massive overdraft charges high street banks charge to their customers.
Christmas loans come home to roost, campaigners warn
With this week marking the one-month anniversary of Christmas Day, campaigners warn that festive season debt from payday loan providers has come home to roost.
Choosing between payday lender or credit union is no-brainer
If you’re in a financial bind that sees you having to make the choice between using a payday loan provider or seeking out your local credit union, the decision should be a no-brainer.
Taken out a short term loan? Good luck getting a mortgage!
If you’ve taken out a short term loan from a payday advance provider any time in the last three months, choose your mortgage lender with care – reports have emerged that more and more home lenders are using payday loans as an excuse to reject your loan application.
Take action early if you face debt problems, experts say
Experts say that you need to act sooner rather than later if you’re facing debt problems, especially as rent arrears could see you having to find a new place to live – and in a hurry.
Don’t lose sight of your financial alternatives
It’s all too easy to develop tunnel vision when a financial crisis rears its ugly head, but financial experts say that you need to keep your alternatives in mind before going down the payday loan path of least resistance in order to avoid even more long-term financial woes.
MSP urges Scottish Government to issue loan warning
One MSP has recently called upon the Scottish Government to issue warnings to people about how dangerous taking out short term loans from payday advance providers can be, especially in light of how many are brought low by rocketing debt levels as a result every year.
93% of Brits want better protection from payday lenders
If you’re fearful of running afoul of your creditors, especially those in the payday advance lending industry, you’re not alone – a new research project recently revealed that an overwhelming 93 per cent of Brits feel that they need to be protectedbetter from instant cash loan companies.