We catch up with Garth on a busy afternoon. He is sitting behind his desk with a long list of names and telephone numbers to get through. There are about 8 other people at different desks that seem to be doing the same. This is Garth’s domain; he is the customer services manager for a […]
Monthly Archives: July 2015
The national minimum wage rate is to rise: Finally some good news
As of October this year, the national minimum wage rate is to rise. The minimum rate will be increased by 20p bringing the wage rate up to 6.70 pounds. It is clear that millions of citizens across the UK will benefit from this. British Prime Minister David Cameron is interested in giving the workers of […]
Payday loan caps: How will the new APR’s affect the pockets of payday lenders?
It is too soon to be able to measure what effect the payday loan caps will have on the industry. There are of course many theories. Some say that the caps will only help the sector grow further while others believe that the caps will put many lenders out of business. While it is true […]
A 10 percent pay rise has been approved for MP’s
While George Osborne has set down a 1 percent freeze on wage packets for all public sector workers, he approved a 10 percent pay rise for MPs. The pay rise was officially announced by IPSA, (the Independent Parliamentary Standards Authority). Ipsa confirmed that the move to hike the wages of the MPs will go ahead […]
Are loan sharks hijacking your phone? Sharks pester unsuspecting people with texts and calls
Here is a story about loan sharks hijacking a person’s phone. Let’s say his name is John, his story is one that many people across the country can relate to. The first text came through on his number one day at the crack of dawn. The message on John’s phone read: Hi David. Following your […]
Loan shark with a conscience!
The Cape of Good Hope boasts not only beautiful scenery, but evidently, a loan shark with compassion. Recent reports from South Africa tell of a loan shark in Cape Town who has a conscience. This man claims to run a fair business and gives his clients discounts and even writes off their debt. It seems […]
The largest city in Scotland hosts the highest numbers of payday lenders and bookies.
It looks like Glasgow can boast the highest numbers of payday lenders and bookies in the whole of the United Kingdom. According to research, the Scottish city is the capital of quick loan shops and bookies. What’s more, it seems that birds of a feather flock together. According to unidentified campaigners, payday lenders often set […]
Family man pushed to brink of suicide by illegal loan sharks
Illegal loan sharks are doing a good job of tarnishing the short-term high-interest loan market’s reputation. Recently a father of six found himself on the brink of suicide because of the mess that he had found himself in after borrowing money from loan sharks. The government funded squad that fights loan sharks, the Illegal Money […]
Crackdown on payday lenders: The endless cycle of debt
One of the largest payday players on the market has taken it square on the chin as the Financial Conduct Authority (FCA) begins to crack down on payday lenders. Some of the payday companies that occupy the largest section of the market have reported losses of up to 37 million pounds in 2014. These are […]
The regulator has thrown its weight around but payday lenders will survive?
It doesn’t look pretty when one of the biggest players in that industry has reported losses to the tune of 37 million pounds in 2014. This comes while the FCA (Finance Conduct Authourity) was busy looking into how the payday was to be regulated. It was only in January 2015 that the FCA published the […]