Provident Financial secrets revealed

[Deleted User]

What is the alternative to payday loans and companies like Provident though? The government could ban them tomorrow but people who cant manage their money (or want everything NOW rather than saving) would just turn to loan sharks, and you would be paying back far more than double!

I actually believe payday lenders do have their place - if you need £100 in an emergency for a few days they are great for that, especially when you compare to unauthorized overdraft fees from some banks.

The issue is people abuse it and blame everyone else for their financial stupidity. How many posts do we see on here where someone borrowed money then "lost their job" or some other nonsense! They had no intention of paying it back but are happy to take the money in the first place.

It would be interesting if we had a law like Dubai where if defaulting on a debt is a criminal offence....