Industry concerns. In March 2013 the OFT announced it had serious concerns about payday lenders after it uncovered evidence of widespread irresponsible lending. It said lenders were failing to explain adequately how payments will be collected, using aggressive debt collection practices and not treating borrowers in financial difficulty fairly.
It also found that up to half of payday lenders revenue comes from loans that last longer than 30 days and cost more than originally agreed because they are rolled over.
So far this year the OFT has revoked the licences of three payday lenders and says it will handicapped person loan to crack down on payday lenders that breach the law or OFT guidance. Did you enjoy that.
Why not share handicapped person loan article. Problems paying back a payday loan. If youre struggling to pay back a payday loan or think that the lender has treated you unfairly, heres how to tackle the problem.
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"Long-term" loans, typically provided by a banking institution, are a better choice when you need a larger amount of money, and you know you cannot pay it back for a while. Be aware, however, that most long-term loans will require that you undergo a rigorous application process, and it may take several days to weeks to obtain your cash.
With short-term cash advance loans, you do not have to provide ACE Cash Express with a reason for borrowing. Long-term lenders often demand borrowers explain their loan need before approving the transaction, so you may need to reveal personal information handicapped person loan would prefer to keep private.
ACE Cash Express does not require a credit check from the three major bureaus to qualify you for a cash advance. This simplifies the application process and provides another alternative to credit cards. Long-term lenders usually require a traditional credit check. While a long-term loan may still be the best option for your handicapped person loan, you may not be able to secure one if your traditional credit score is subpar. If you decide that a cash advance at ACE fits your lending needs, rest assured that the application process is secure.