This page contains information on the basic way of grievances about cash loans for financial businees.

If you’re looking for details particularly about , please look into our personal specialist web page which contains help and advice for economic businees about problems pertaining to .

Different grievances we see

Back when we involve brief financing, we’re normally preaching about payday loans and instalment debts – but inaddition it involves stuff like unrestricted account features.

These types of items are frequently sold at those with limited acce to popular credit score rating. And though the sums of income present might somewhat small, the interest rate become higher. Considering the costs involved, they aren’t aimed at lasting borrowing and usually operate for up to one year (while some may slightly lengthier).

Up until 31 March 2014 temporary financing come according to the extent of the Office of Fair Trading (OFT).

After this time the Financial Conduct power (FCA) became the regulator and presented this is “high-cost short-term loans”. In order to meet this classification, the lending needs to:

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