Disappearing Pay Day Lenders
The BBC reports “Three of the biggest payday lenders in the UK have collapsed or closed their doors in recent times. While many people will not mourn their passing, others will wonder whether another door has closed on access to short-term relief for their finances.
Research by the City regulator shows that 78% of UK adults borrowed through some kind of credit or loan product at some point during the previous year - it is a way of life. Yet, 11 million people have no more than £100 in savings to fall back on, while 4.1 million people have found themselves in financial difficulty by missing a number of repayments or domestic bills.” Read More