Payday Lenders

We'll Be Back Right After This Break - The Fact and Fiction About Advertising of Payday Loans

Russell Hamblin Boone | Posted 05.06.2016 | UK
Russell Hamblin Boone

Short-term lenders have proven themselves to be committed to responsible advertising, continual improvement and consumer protection. Yet some guarantor lenders and other credit providers still advertise widely, using many of the techniques that payday lenders have been told are unacceptable.

Could You Review a Movie From Just the Opening Credits?

Russell Hamblin Boone | Posted 24.05.2015 | UK
Russell Hamblin Boone

However, the thematic review should have been much clearer about when non-compliance was identified and whether the firms responsible are still trading. Until we tackle the institutional misrepresentation of the industry it will be difficult for consumers to break free of out of date financial services and embrace new technology and new attitudes to financial management.

Rats Deserting A Sinking Ship? Third Wonga Boss Quits In A Year

The Huffington Post UK | Asa Bennett | Posted 20.11.2014 | UK

Wonga has lost its third chief executive in a year after Tim Weller left after just six months in the role. Weller took over from Niall Wass in May...

Climbing the Credit Ladder When the First Rung Is Missing

Russell Hamblin Boone | Posted 17.01.2015 | UK
Russell Hamblin Boone

Should responsible borrowers be rewarded for their good financial management with access to increasingly cheaper forms of finance? A new report says 'yes', but not everyone thinks they should be allowed to climb the credit ladder.

Sharp Fall In Profits Expected For Wonga

PA/Huffington Post UK | Posted 29.09.2014 | UK

Controversial payday lender Wonga is expected to report a sharp fall in profits when it publishes its full-year results tomorrow. The firm, which has ...

If Wonga Adverts Told The Brutal Truth

The Huffington Post UK | Posted 23.07.2014 | UK Comedy

Imagine what it would be like if Wonga commercials were brutally honest? We did... (Video for HuffPost UK Comedy by David Schneider and Handface...

Payday Lenders Target Debt-Ridden Families With New Nuisance Tactic

The Huffington Post UK | Asa Bennett | Posted 22.07.2014 | UK Politics

Payday lenders are "bombarding" debt-ridden families with unsolicited marketing calls pushing them to take out more loans, new research has found. ...

Asa Bennett

Six Wars Miliband Has Waged Against Business | Asa Bennett | Posted 13.06.2014 | UK Politics

Ed Miliband has come under pressure from two former Labour ministers to be nicer to business and not give the impression that he wants to hurt British...

LISTEN: Archbishop Inspires Amazing Rap About Payday Loans

The Huffington Post/PA | Posted 11.06.2014 | UK Politics

Archbishop of Canterbury Justin Welby's warnings about payday loans have inspired a rap song. We Need A Union On The Streets, by music producer Cha...

Are Payday Lenders 'Exploiting' Borrowers?

The Huffington Post/PA | Posted 25.01.2014 | UK

Payday lenders have been accused by Which? of "exploiting" borrowers who default on loans with over-the-top fees that raise the risk of them tipping i...

The High Street Predators of Food Bank Britain

Julian Dobson | Posted 28.01.2014 | UK
Julian Dobson

On the fifth anniversary of Woolworths' closure, it fell to the Pope to offer an alternative to these more-of-the-same mumblings and to the Gordon Gecko philosophy of Boris Johnson. His speech is worth reading for its contrast to the prevailing economic wisdom...

National Payday Scandal Exposed by Grassroots Activists Forced the Government to Act

Steve Doran | Posted 27.01.2014 | UK Politics
Steve Doran

The battle isn't won, of course. A cap on the cost of credit is just one of many changes that need to be made, and we have yet to hear what that cap will be or how it will be set. But for those of us who've been making these arguments for months, and for those of us who've laid awake at night worrying about debt, today is a monumental day.

Asa Bennett

Osborne Backs Payday Loans Cap... After He And The Tories Opposed It | Asa Bennett | Posted 25.11.2013 | UK Politics

George Osborne has surprised critics by unveiling plans to cap the total cost of payday loans to save vulnerable consumers from the 'legal extortion' ...

Mehdi's Morning Memo: So Close, Yet So Far

Huffington Post | Mehdi Hasan | Posted 10.11.2013 | UK Politics

The five things you need to know on Sunday 10 November 2013... 1) SO CLOSE, YET SO FAR The west and Iran were so close to reaching an agreement ...

Austerity Britain 'To Continue Till 2030'

The Huffington Post UK | Asa Bennett | Posted 07.11.2013 | UK Politics

British families will continue to feel the austerity squeeze until 2030, over a decade longer than previously expected, a stark report by PwC has warn...

We Can Win the War on Wonga

Gareth Thomas | Posted 23.01.2014 | UK Politics
Gareth Thomas

This week's announcement that a future Labour Government would not only cap the total cost of credit but also introduce a new levy on payday loan companies in order to provide greater support to credit unions is great news and a testament to the hard campaigning of Co-operative Party representatives - like Stella Creasy MP and Kezia Dugdale MSP - and activists up and down the country. Credit unions are a great example of the difference that co-operative solutions can make.

Miliband Declares War On Wonga

The Huffington Post UK | Asa Bennett | Posted 17.10.2013 | UK Politics

Payday lenders such as Wonga would face higher taxes under a Labour government in order to help their credit union rivals, Ed Miliband is to announce....

Mehdi's Morning Memo: Miliband's 'Wonga Tax'

Huffington Post | Mehdi Hasan | Posted 17.10.2013 | UK Politics

The five things you need to know on Thursday 17 October 2013... 1) MILIBAND'S 'WONGA TAX' Boom! First, the energy companies. Now the payday lend...

Coming To Your Cinema: Wonga The Movie

The Huffington Post UK | Asa Bennett | Posted 15.10.2013 | UK

Wonga is set to release its own feature film at the end of this year which could be shown in cinemas and on television. The firm, which made over ...

Have Payday Lenders 'Failed To Self-Regulate'?

The Huffington Post UK | Asa Bennett | Posted 03.10.2013 | UK Politics

Payday lenders have been flouting rules they agreed to last year in order to better protect customers, government research has found . In a Departm...

Robbing Peter to Pay Paul

Rob McDowall | Posted 23.11.2013 | UK Politics
Rob McDowall

Payday Loans have become a hot topic and a regular feature in the British press week in, week out. The market has grown significantly and although the Office of Fair Trading (OFT) have no official figures on exactly how much the sector is worth it estimated it at around £900 million in 2008 with Consumer Focus estimating the total value of loans made in 2009 at £1.2 billion.

How Many Adults Needed A Loan Last Year?

The Huffington Post UK | Asa Bennett | Posted 20.09.2013 | UK

More than one in five Britons have had to take out loans in order to put food on the table and meet their energy bills, research has found. Around ...

Which Payday Lender Is The Most Expensive?

The Huffington Post UK | Asa Bennett | Posted 17.09.2013 | UK

Payday lenders are up in arms about one particular bit of industry legislation, which legally obliges them to advertise their annual percentage rate (...

Labour's War On Wonga?

The Huffington Post UK | Asa Bennett | Posted 09.08.2013 | UK

Payday lenders could be forced to pay a levy towards their rival credit unions, a type of membership-owned lender, under proposals being considered by...

'The Payday Lender Exodus'

PA/The Huffington Post UK | Posted 30.07.2013 | UK

Fifteen out of 50 payday lenders have thrown in the towel after being given a deadline by the trading watchdog to prove their business practices were ...