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6 Shocking Things You Would Not Believe Payday Lenders Have Done

6 Shocking Things You Wouldn't Believe Payday Lenders Have Done
Asa Bennett
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LONDON, ENGLAND - NOVEMBER 01: A sign outside a 'Speedy Cash' cash loans shop on Brixton High Street on November 1, 2012 in London, England. The recession has changed the face of the UK's high streets, which have seen a boom in bookmakers, discount stores, charity shops, cheque cashing (payday loans) and pawnbrokers as cash-strapped Brits struggled with their finances. (Photo by Dan Kitwood/Getty Images)
Dan Kitwood via Getty Images

Payday lenders have spread so far across Britain's high streets that there is now one lender for every seven banks and building societies.

The shocking finding came from the Bureau of Investigative Journalism’s research for the Guardian, which found that Glasgow is the payday loan capital of Britain.

The Financial Conduct Authority (FCA), which takes over as the payday loans' watchdog in April, said it would investigate how sympathetic the lenders are to those in debt following a swathe of complaints. The trade bodies have welcomed this as they argue that it'd drive out the "least reputable lenders".

Is this unfairly harsh on the payday industry? Judge for yourself as we have compiled the 6 worst things payday lenders have been accused of doing.

Things You Wouldn't Believe Payday Lenders Did
Given loans to drunks (01 of06)
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According to the Citizens' Advice Bureau, loans have been granted to people who were drunk when they applied.
Plugging their loans at job centres (02 of06)
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The Cheque Centre, one of Britain's largest payday lenders, was reported to have sent staff to stand outside job centres and to hand out leaflets advertising their loans.
Giving loans to mental health patients(03 of06)
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Yes, this happened - according to the Citizens Advice Bureau.
Urging a 12-year-old to take out a loan(04 of06)
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Payday lender Wonga waded into further controversy after sending a letter to a 12-year-old - offering a 'special discount'The firm said that they had only sent the letter because a survey had been filled out giving the child's age as over 18.
Hiding interest rates in Facebook ads(05 of06)
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Payday lenders were found out by debt charity Credit Action for using the Facebook social network to target young people with ads which broke regulations as they did not list details like the interest rates.
Shame those who never HAD a loan into paying up (06 of06)
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Payday lenders had also hounded people for loans they had never taken out and tried to shame them into paying up, the Citizens' Advice Bureau said.
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