Short term lenders or payday lenders are obliged to check your credit background. Now that the Financial Conduct Authority (FCA) rules have kicked in payday lenders will be under pressure to check potential customers even more carefully. The FCA rules do not apply only to short term lenders but, in fact, to the whole financial […]
Monthly Archives: March 2014
How to protect yourself from financial scams in the financial services sector
Most financial services companies are above board, transparent and registered. These companies include short term loan companies such as payday lenders. Unfortunately there are scammers posing as something they are not and we all need to be on guard so that they do not relieve us of hard-earned money. From the 1st April the FCA […]
Cut down on debt, reduce short term loans and put money in a pension
Tired of short term loans, payday loans, credit card debt? Fed up with being in debt and always having to borrow money? You are not alone. According to recent statistics from the charity Stepchange 66,557 people are currently battling debt in the UK and asking for their help. If you are battling debt it would seem […]
Payday lenders forced to check potential customers carefully
When the Financial Conduct Authority (FCA) takes over regulation of the consumer credit market on 1st April payday lenders and all other companies providing credit facilities will be forced to check potential clients thoroughly. Payday lenders must ensure borrowers can pay back loans Payday lenders will be obliged to check that all customers applying for […]
Cap on rollovers for payday lenders in the UK
In what is expected to be the biggest overhaul in the consumer credit industry in over four decades payday lenders face a cap on rollovers and on compulsory affordability checks. The Financial Conduct Authority (FCA) will take over regulation of the consumer credit market from 1st April and has published their new rules. Rollover on […]
Will a payday loan damage my chances of getting a mortgage?
The quick answer to the question to whether a payday loan will affect your possibility of getting a mortgage is, no, it won’t. Having said that there is a caveat; your chances of getting a mortgage will be spoiled if you misuse your payday loans by either not paying on time, rolling loans over or […]
Short term loans from payday lenders on the increase; payback problems increase
Short term repayment problems double as payday loans become more popular Short term loans, also known as payday loans in the UK, are a great way to borrow money on a short term loan basis for unexpected emergencies but when borrowers start rolling over loans, or borrowing money from more than one payday lender at […]
Clear your credit card debt quickly and save an astonishing amount of money
Statistics on credit card debt in the UK shows that credit card holders owe an average of 2,000 pounds on their credit cards. With an interest rate of 17% and a monthly payment of 100 pounds it will take two years to pay off the 2,000 pounds debt. Now, assuming you cannot afford to pay […]
Smart Binary Options Trading Avoids Unnecessary Payday Loans
Payday loans are an amazing tool to help people out with emergency cash in a time of crisis. That being said, most people would rather have a nice source of backup income they can rely on in an emergency instead of counting on payday loans to bail them out. Binary options trading is a viable […]