Articles covering payday loan debt, including how it worked in the past, the problems it caused for borrowers, and the changes that have taken place in the UK lending market.
In the early 2010s, payday loans were everywhere in the UK. These short-term loans allowed people to borrow small amounts of money, usually until their next payday. Companies advertised heavily online and on television, promising fast approvals and money within minutes. However, these loans often came with extremely high interest rates and fees, and many…
I recently helped a friend with a Wonga Payday Loan and setting up a repayment plan. He was unable to pay it off and didn’t want to defer payment as it was unlikely his situation would improve. Rather than pay off the loan and take out a new one he asked about repayment arrangements and…
If you are unable to pay your QuickQuid Loan you may be worrying about what to do. Don’t worry you are not alone, lots of people struggle to repay their payday loans. Payday Loans are very expensive and Payday Loan Debt soon mounts up as a result. You might have already made an attempt to…
One of the more difficult types of debts to deal with are Payday Loan Debts. The problem with Payday Loans is the amount of interest charged, it becomes very expensive very quickly. The other problem with a Payday Loan is paying it back the following month. When you take out a payday loan and things…
This post is all about what may happen and what you can do when you are unable to Pay QuickQuid. QuickQuid is one of the companies I personally owed money to so this post details what happened when they weren’t paid and what happened next. Things to consider: – Whilst this is what happened when…
Payday Loan Debt can be quite difficult to deal with. Mainly because most of the lenders tend to reject your offers of repayment or require payment within a short space of time. Typically though after around 3 months your Payday Loan Debt is sold or passed to a Debt Collection Agency and they will normally…