Sunday, June 5, 2011

Payday loans OFT Investigation

Recent research into payday loans stated, that? in 2010, it is discovered that borrowers are taking out in average, 3.5 pay day loans a year with the amount ranging around 300 pounds per loan. The report was published by OFT titles a review of high-cost credit, where it was decided that industry on the whole should be changed, and a more drastic approach was needed for the government and other organization to succesfully attack this meance to bring about a change in financial, and free market. Although payday loans or cash advance loans have not stopped, there has been more of a highlight into the type of loan it is and the kind of end user taking out this type of finance.

Source: http://www.wahmbiztips.com/finance/payday-loans-oft-investigation/

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