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MSE News: Payday loan complaints to Ombudsman triple in a year

in Loans
2 replies 1.4K views
The Financial Ombudsman Service reports that complaints about payday lenders tripled in the 2016-17 financial year ...
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Payday loan complaints to Ombudsman triple in a year'
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  • fatbellyfatbelly Forumite
    18.7K Posts
    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier
    Good. 59% upheld, and a tripling of complaints tells its own story.

    Debt Camel has been at the forefront of this, and the dfw board here deserves a mention, particularly this thread
  • StopItStopIt Forumite
    1.5K Posts
    But, but we were told by the industry that they're all good now and they've learned from the warnings from the past about their conduct? That now if people have complaints it's their fault and they should take more "personal responsibility"

    Pish. They're the same as they've always been, predatory lending never changes and people learning that they're being preyed upon and realising they have an avenue for redress is only a good thing.

    The majority of complaints being upheld show that the industry has learned little from past mistakes and they still use debt crises as a way to make a fast buck.

    In debt and looking for help? Look here for the MSE Debt Help Guide.
    Also, If you need any free and impartial debt advice, the National Debtline, Stepchange, and the CAB can help.
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