The Payday Loans Industry ‘Needs Understanding’, says Online Payday Loans

Share Article

The latest information and advice on the industry described as ‘poorly regulated’ by MPs

...do absolutely nothing until you feel confident you can borrow.

Following BIS Committee chairman Adrian Bailey MP’s criticisms that the payday loans industry has been ‘opaque and poorly regulated’, Online Payday Loans has responded with a complete breakdown of the borrowing market.

‘The criticism is that the borrower is tempted by a quick fix, and that they don’t understand the full agreement,’ explains Steven Sutton, payday loans expert for Online Payday Loans. ‘That’s why our site is designed to break down the loan and the application process to its simplest possible terms.

When asked about the measures Online Payday Loans have taken, Mr Sutton replied; ‘A full a complete list of the terms and conditions, showing what needs to be paid back and when. A continual reminder to ensure you will be in a situation where you can pay the loan back, and most importantly of all- do absolutely nothing until you feel confident you can borrow.’

They payday loan market has grown fourfold over the past four years and has rapidly turned into a billion pound industry. ‘Find the right lender for your circumstances, and make sure you know and are happy with every last detail. The payday loans industry needs understanding,’ continued Mr Sutton.

Online Payday Loans is owned and run by AJInteractive.

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Steven Sutton
Attinger Jack Interactive Ltd
01225 758222
Email >
Visit website