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  • #1

    Please share your experiences with me

    I'm a student at Liverpool John Moores University. As I am in my final year I'm doing a dissertation. I have chosen to do this surrounding payday loans and other similar loans such as log book loans. If anyone would please share their experiences with me I'd be very grateful. Thanks
    Tags: applications, ban, borrowing, con, councils, customers, debt, debtors, drivers, financial, free, guidelines, investment, lending, loan, loans, mortgage, oft, overdraft, pay day loans, payday, payday loan, payday loans, pdl, share, student, text, university
  • #2
    Re: Please share your experiences with me

    Approved by admin.

    If anyone wants to leave their story, feel free.

    Referred to SnV to deal as he's our PDL expert.

    Niddy
    I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

    If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

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    • #3
      Re: Please share your experiences with me

      Hi Kimikirk

      So whats the purpose of your dissertation? I know you mentioned ethics were what interested you so in what context?:

      • The ethics of taking out a PDL over a 'traditional lender'? (e.g. what are the drivers why people take out a payday loan)
      • The ethics of the people taking out pay day loans? (e.g. what is their attitude towards debt, borrowing etc)
      • The ethics of people towards those who take out payday loans? (This may be why you are finding it difficult to find people to talk to)
      • The ethics of the PDL companies with regard to responsible lending and the lending code? (i.e. do they follow the guidelines)
      • The ethics of the PDL industry business model and high % APR (Are the worse than, for example, short term lending in the form of an unauthorized overdraft)
      • The ethics of how PDL companies are financed (e.g. the majority are actually UK subsidiaries of US based financial companies)
      • The ethics of those who invest in them (e.g. CoE and certain local councils all have PDL companies in their investment portfolios)
      • The ethics of the PDL companies in encouraging customers to 'roll over' their loans even when they have no need to do so
      • The ethics of their marketing (targeting vulnerable markets, for example, students and failure to comply with advertising standards)
      • The ethics of the PDL companies towards debtors (e.g. breaches of OFT guidelines, unlawful behavior)
      • The ethics of the mainstream lenders towards PDL companies (e.g. refusal of mortgage applications)


      As you can see there could be plenty to discuss

      SnV
      "I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."

      The consumer is that sleeping giant.!!


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      • #4
        Re: Please share your experiences with me

        Originally posted by Kimikirk View Post
        I'm a student at Liverpool John Moores University. As I am in my final year I'm doing a dissertation. I have chosen to do this surrounding payday loans
        I'm so glad to see you doing this As you probably know the National Union of Students is campaigning to prevent Payday Loan providers from advertising on campus. So far ten universities have agreed to ban them but sadly not your one yet According to this source up to 10% of students have taken out PDLs which is a shocking statistic considering the fact that they probably don't even have a job.

        http://www.nus.org.uk/en/get-involve...ayday-lenders/

        Good Luck with your dissertation

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