Payday Loans

Payday loans investigated by Channel 4 News





Reckless lending and aggressive personal debt selection: which is the demand levelled by the Office environment of Truthful Buying and selling from dozens of payday personal loan companies. It claims most of the 50 corporations it inspected unsuccessful to meet suitable criteria. .

12 comments

  1. what about responsible borrowing?

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  2. There's nothing wrong with wonga lones it's the thick people who use them! your responsible for yourself!

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  3. Why don't people not just go to a Credit Union to get reasonably low interest rate loans instead of going to these sharks?

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  4. it's not about taking out a loan & not paying it back Payday loans are illegal in most states & even alot of banks could get into trouble for allowing it to happen. (especially in states where it's illegal). These payday loan companies need to be stopped.

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  5. Alerting you to another money scam! If you receive a text message from 646-470-4921 or 239-234-4377 threatening to have you arrested if you don't send money please report to your Attorney General and local officials. Make sure the authorities know of these scammers and fraudsters!! Let's bring these illegal activities to an end now!!

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  6. I have used them in the last and it helped, but now all paid off and never again. I want something I try and get a day of over time at work.

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  7. Oh, God, so YOU TAKE out a loan and then you blame THEM for giving it to you ?! People, why don't you use your brains before you do something. They will lend you money always, that's how they make money. YOU have a choice if to take out a loan or not, though.

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  8. "Bob" was at the bar drinking in this video, but doesn't want to pay his loan bac lol. Simple person that was irresponsible, then wants to place blame on other people so he doesn't have to pay it back. They knew what they were getting into.

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  9. Irresponsible lending= problem.  Irresponsible borrowing= problem.

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  10. Legalized loan sharking

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  11. We are starting to see more welcomed regulation for this rapidy expanding market.

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  12. It's in the Pay Day Loan companies best interest to give money to people that can't pay it back within the specified time frame because PDLs then pursue them for more money on more loans taken out. If everyone paid back all the loans as soon as possible there would be less revenue coming back to the lenders. This is why there are no or few background credit checks on lenders.  Pay Day Loan companies are loan sharks under a different name and should be avoided at all costs.

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