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.