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Cash advance companies which can be flouting regulations

Unscrupulous lenders that are online acting beyond your legislation, our detectives discovered.

  • Simon Read@simonnread
  • Friday 9 November 2012 21:00 < ^moreThanTen>
  • < > Commentary< >

A study of online payday lending web web sites carried out final week-end with respect to The Independent unveiled that a lot more than two-thirds of these don’t have any consumer credit licence that is valid.

The sites are breaking the law without a valid licence. The shocking data really are a fresh sign that the sector is spiralling out of hand as increasingly more organizations pile in with the expectation of creating a fast dollar away from struggling individuals.

Work of Fair Trading happens to be investigating the high-cost credit industry to check out accusations of reckless financing and pushy advertising.

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