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Payday advances therefore the therapy of financial obligation.

Payday advances therefore the therapy of financial obligation.

Pay day loans could be costing us more than simply cash.

In belated August, it absolutely was established that Wonga have been put into management. The news headlines wasn’t completely unforeseen, with cash advance businesses now operating in a more environment that is hostile one that saw Wonga making a regular, pre-tax revenue of over ВЈ1.5m per week in 2012. Ever growing amounts of complaints and payment claims, in conjunction with a government crackdown on permissible rates of interest ushered in the long run of this UK’s biggest payday lender. (more…)