According to maximum allowable charges (20% of loan) and interest (four per cent each month

December 16, 2020 No comments yet

According to maximum allowable charges (20% of loan) and interest (four per cent each month

Marketing mayhem

The us government might have set restrictions on pay day loan charges and interest, nevertheless the tighter legislation does not appear to be deterring lenders. Payday loan provider advertising is widespread – specially on the net – and is apparently growing. Within the UK, the Financial Conduct Authority has clamped down on deceptive pay day loan marketing – especially ads focusing on teenagers.

The rates for any other prominent advertisers are worse.

Payday loan provider pages

Sunshine Loan Centres

The advertising claims “you’ve started to the best destination if you want between $100 and $1500 quickly”, and guarantees to “work out a repayment plan that fits your financial allowance”.

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