Do you think that the UK payday loan market needs more regulation?

GreatUnknownX

Hello!

I'm currently writing my dissertation on the 2014/15 FCA reforms which have regulated the payday lending industry in the UK, with the aim of seeing whether the regulations have increased the safety of lending for consumers, or if more regulations are needed. I'm struggling to get responses from people who have previously taken out a payday loan, so if you live in the UK and have experience with this, your answers would be much appreciated! If you've not taken one and would still like to participate, you can still do so, as I'm looking for general opinions on the lending industry also. 

I'm not able to post links as I've only just made this account but you can copy and paste the below and remove the spaces to access the survey! 

ht tps://forms.office.com/r/6LCQqbcaxL

Thank you so much in advance!

DullGreyGuy

I think you need to clarify what you mean by "proof" in Q13. 

In 20 years of occasionally taking loans, inc 2 payday loans (though one was because the cashback was higher than the fees/interest), I've always been asked about income and potentially some outgoings (eg rent/mortgage) but never had to substantiate/evidence either... are you talking of proof simply in the form of asking relevant questions or are you talking submitting documents? I'd assume the later but then the answer would be the same as regular loans.

Misslayed

If you're struggling to get responses, try Prolific Academic, although you will have to pay for your data.