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StepChange Debt Charity response to Financial Ombudsman Service findings

19 August, 2014

Following the release of the Financial Ombudsman Service’s findings on complaints about payday loan brokers, StepChange Debt Charity head of policy Peter Tutton said:

“Today’s findings come as little surprise. We continue to see numerous cases where financially vulnerable people suffer at the hands of brokers who take money from their accounts but fail to deliver on the promise of a loan. This is a well-known problem, but it continues to get worse. The time has come for government and the regulator to ban credit brokers from charging up-front fees.”

We urge anyone who is struggling with payday loan debt to contact us for free and impartial debt advice. 

Media enquiries:

All media enquiries should be directed to:

Ed Ware (edward.ware@stepchange.org) 0207 391 4595

Laura Bradder (laura.bradder@stepchange.org) 0207 391 4598

Out of hours - 07985 404153

Helping you become debt free...

“I wish to thank your staff for all the great help they gave me when I was in so much debt.
They were a pillar of support to me.” (Leslie, Essex)

Foundation for Credit Counselling Wade House, Merrion Centre, Leeds, LS2 8NG trading as StepChange Debt Charity and StepChange Debt Charity Scotland. A registered charity no.1016630 and SC046263. It is a limited company registered in England and Wales (company no:2757055). Authorised and regulated by the Financial Conduct Authority.

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