Payday Loans - Cap

avfc82 · 12 November 2014 at 1:12PM

Hi,

With this latest news on the Cap they planned to do in January 2015, for the payday loan companies, what if you have existing debt with them will my payments still be on the old APR or will this be on the new APR?

Thanks

Tixy · 12 November 2014 at 5:25PM

It will only affect loans taken out after 2 January, or loans modified after the 2nd January.

DCFC79 · 12 November 2014 at 6:03PM

A link to the article on MSE

avfc82 · 12 November 2014 at 8:28PM

Thanks both for your replies

Payday Loans - Cap

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