Our fresh guide to Payday Loans

By: Amanda Gillam May 26, 2015 Our fresh guide to Payday Loans Payday loans have been vilified more than just about any other personal finance product ever. Borrowers who should not have been borrowing were. And lenders were targeting those people when they should have behaved more appropriately. The impact of the FCA’s intervention has been dramatic. Both lenders and borrowers have left the market with the number of new loans actually made having fallen by nearly 40%. Lenders are ensuring they only lend to those who can afford to repay the loans, and at the same time are doing so in an environment where their charges are capped by the FCA. The reality is that the industry has cleaned up its act and now performs under the very watchful eye of the FCA. For those people who do need a short term loan to meet an unexpected need then it’s safer to apply now than ever. But don’t be disappointed if your application is declined – it’s simply the lenders protecting you from yourself. May be it
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