Interesting.....

Brains64

........PayDay lenders to face tougher legislation

somethingcorporate

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?

BugsyBrowne

Its the long term effects of PDL's which is the problem.

somethingcorporate

Which is what?

PDLs are not supposed to be a long term solution and they are far preferable to the alternatives (loan sharks).

poledancer49

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

poledancer49 wrote: »

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?

fermi

MSE News: Payday loan firms told to play fair or be banned by OFT