It also found that up to half of payday lenders revenue comes from loans that last longer than 30 days and cost more than originally agreed because they are rolled over. So far this year the OFT has revoked the licences of three payday lenders and says it will continue to crack down on payday lenders that breach the law or OFT guidance. Did you enjoy that. Why not share this article. Problems paying back a payday loan. If youre struggling to pay back a payday loan or think that the lender has treated you unfairly, heres how to tackle the problem.

What to do if you cant pay back your loan. If youre struggling to pay back a payday loan, the worst thing you can do is ignore the problem. Dont panic or struggle in silence, here are the steps you personal loans credit scores take: 1.

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Personal loans credit scores