August 2014

Payday lenders "should be made responsible for the actions of loan middlemen"

The Financial Ombudsman has turned a spotlight on websites that take large fees from consumers on the promise of finding cheap credit for them, even when those loans are not forthcoming.

And now Debt Advice Foundation has called for payday loan companies to be made responsible for the actions of credit brokers and so called “lead generators” – marketing sites which sell a potential borrower’s details to the highest bidder.