Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk
Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

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Discussions

Discussions

New rules but do payday loans still really exist


by bazgazdaz, over a month ago.
ok with the new rules lenders are not allowed to charge more than a certain amount per day. i cant remember how much exactly so does that mean there arent payday loans anymore? all the adverts ive seen are for 3-6 months

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Responses

Payday loans have changed in how they work, given new regulations from the FCA and a desire to shake up the market place. This means that many short term loan products are only available with a minimum term of 3 months, otherwise they simply aren't viable products for the lenders. This still allows short term loan products, but with typically lower repayments to meet the 3 month term.
by Pedro ° over a month ago.
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