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Watchdog announces cap on pay day loan fees

二月 19, 2020 - 11:22 下午 No Comments

Watchdog announces cap on pay day loan fees

The Financial Conduct Authority has established a limit from the sum of money payday loan providers like Wonga may charge for the loan. But is this adequate to prevent folks from spiralling into financial obligation?

The concept is not difficult.

someone borrows a hundred or so pounds from a pay day loans company to tide them over until they get their pay that is next cheque. Then they pay off the amount of money they’ve lent, as well as the interest, on time. For the people with dismal credit documents struggling to borrow more cheaply from banking institutions, the amount of money will help pay their household bills. (更多…)