just exactly exactly How pay day loan eligibility is determined, and exactly how it works

Pay day loans have actually mostly been vilified within the news, for their high rates of interest plus the simple accessibility to borrowing.

These complaints typically centre around perhaps the loans had been missold, with complainants saying they couldn’t afford that they were given loans.

The common short-term loan size in britain is ВЈ260, and interest charged is no more than ВЈ24 per month for each ВЈ100 lent. (more…)