With a million people set to make use of payday loans to compensate for Yuletide this year, Miquita Oliver goes clandestine to find out the law about Britain’s many contr…


james mcbride January 9, 2014 at 1:12 am

i work in pawnbroking for a chain we dont do these in our groups they are
very high risk lending and the true debt write off’s and toxic debt has not
been published for this service. everyone that asked for one straight away
in the town i worked in, knocked rival companies for them and bragged about
it. for emergency like vets bills etc they are useful service but dont live
on them. most ppl that use payday loans do gambling/drinking/drugs.

Daniel Jones January 9, 2014 at 1:40 am

I have little sympathy for people who purchase a financial product and then
do not pay the rate that they agreed to, and then to encourage politicians
to punish the victims of this theft is totally absurd..

To anyone that thinks this is acceptable, then how about I offer to buy
your house for 200k, take the house keys, pay a fiver, refuse to pay the
amount offered and lobby MP’s to impose future ownership bans on you,
because these are identical scenarios.

MrAJR76 January 9, 2014 at 2:37 am

This program ignores the mass of regulations that have come in this year to
stop bad practices by lenders. Unforgiveably (for a supposedly seriously
documentary) the program also perpetuates the myth that a payday loan costs
thousands of percent interest. It doesn’t! APR is an ANNUAL interest figure
that doesn’t apply to a one month loan; it’s just a figure that all lenders
have to state. If you pay the loan back on time it’s cheaper than a
standard bank loan. It only escalates if you keep deferring it for months
on end (which payday lenders no longer allow anyway).

Sirius Alpha January 9, 2014 at 2:45 am

Those who take out these loans (no matter what the reason for the loan)
should expect no sympathy whatsoever ! 

cumnes6 January 9, 2014 at 3:09 am

The amount of useless, moronic, fuckwits in this country gives me no hope
for the future… how can so many people be so fucking stupid to get these
ridiculous loans? Do people not have any self control? People in this day
and age are so impatient and greedy, it boils my blood watching this.

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