Payday advances companies ‘out of control’ – report

Payday advances companies ‘out of control’ – report Cash advance organizations lent money at soaring rates of interest to individuals with psychological state problems, the under-18s, and clients who had been drunk if they took out of the loan, a debt advice charity reveals. Email Load more share choices Citizens Advice (CA), which carried out of the research, said payday loan providers had been “out of control” and urged trading watchdog the Office of Fair Trading (OFT), to ban reckless companies. An analysis of 780 situations reported to CA between November 2012 and May 2013 discovered proof of reckless training which included loans that are …

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