Payday loan firms back off over advertising code fears

[AAD News Feed]

Payday loan firms back off over advertising code fears

This is a duplicate of the Blog Entry made on 12th February 2012 09:47.

Several payday loans firms have been forced to change the way they do business after a Financial Mail investigation found they might be in breach...

Click to Read More...

[SaltnVinegar]

Re: Payday loan firms back off over advertising code fears

The companies mentioned here are actually 'brokers' or 'affiliates' rather than actual lenders, although some of them have links to the lenders themselves if you look at companies house info.

PDL companies are already under scrutiny, however it would seem that these 'affiliates' are even less constrained or regulated than the PDL companies themselves.

So these 'affiliates' can breach the advertising standards, yet the PDL companies can wash their hands.

Some PDL companies are also offering commission (in the form of free borrowing or even hard cash) to existing 'customers' to sign up their friends/relatives etc in a high interest form of the MLM scams a lot of people get sucked into.

The more you dig, the dirtier it becomes.......

Payday loan firms back off over advertising code fears

This is a duplicate of the Blog Entry made on 12th February 2012 09:47.

Several payday loans firms have been forced to change the way they do business after a Financial Mail investigation found they might be in breach...

Click to Read More...