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  • Are we all stupid enough to think showing a few less adverts and showing more prominent T&Cs will have any kind of impact on the desperate people that have to resort to using payday loans?
    Thinking critically since 1996....
  • BugsyBrowne
    BugsyBrowne Posts: 5,697 Forumite
    Its the long term effects of PDL's which is the problem.
  • Which is what?

    PDLs are not supposed to be a long term solution and they are far preferable to the alternatives (loan sharks).
    Thinking critically since 1996....
  • I find the PDL's do tell you how much you are going to have to pay back. Not that I agree with the charge but as mentioned before there are loads of us who need this bridge of help even when we know the rates are ridiculous but what can you do where you have nowhere to turn to?
  • Peelerfart
    Peelerfart Posts: 2,177 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    I find the PDL's do tell you how much you are going to have to pay back. Not that I agree with the charge but as mentioned before there are loads of us who need this bridge of help even when we know the rates are ridiculous but what can you do where you have nowhere to turn to?

    Build up a small savings pot using the money that you haven't paid the PDL companies in interest.

    Or am I missing something?
    Space available for rent
  • fermi
    fermi Posts: 40,542 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Rampant Recycler
    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
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