Despite tougher legislation, the industry will continue to work irresponsibly by lending to individuals in economic trouble. We talked to a single target
Neither of whom asked him to disclose previous money problems despite having an IVA, one borrower found he was able to take out new loans from two lenders. Photograph: Suzanne Plunkett/Reuters
Despite having an IVA, one debtor discovered he had been capable remove brand new loans from two loan providers, neither of whom asked him to reveal past cash dilemmas. Photograph: Suzanne Plunkett/Reuters
A lex Jones* needs to switch their phone down in the office so that the text that is constant usually do not distract him. He gets around 20-25 a time from payday lenders and agents providing high-cost loans as much as ВЈ1,000 an occasion.
“Need money? We now have evaluated the application …” a text that is typical. “A loan of as much as ВЈ900 is preparing to finish,” claims another. Continue reading “25 texts and e-mails every day: exactly exactly exactly how loan that is payday hound vulnerable borrowers”