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Daniel

Daniel is a loans expert based in London and has been working in the payday loans industry since 2010.

The rise of loan claims

There have been numerous reports in recent months about how there has been a surge in the number of complaints about high-cost credit in the UK. In fact, the number of complaints has risen to record levels.  According to a recent article by The Guardian in May, the number of complaints regarding consumer credit in 2017-2018 had risen by a staggering 36,300, with more than half of these relating to payday loans, according to statistics provided by the independent Financial Ombudsman Service.  Whilst of all new complaints, those about payday loans had risen by over 64%, going from 10,529 to […]

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Can you be taken to court over a loan?

If you have taken out a payday loan and find yourself in a situation wherein you are not able to make repayments and find yourself defaulting on them, you may be concerned about what will happen next. One potential worry for borrowers concerns the possibility of being taken to court by a payday loan bad credit lender. However, is this, in fact, the reality if you don’t pay back a payday loan? You won’t be taken to court over a payday loan The simple truth is, is that a payday lender does not have the ability to take you to […]

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Can you go to prison for not paying a loan?

If you are struggling with mounting debt, perhaps because you have encountered an unexpected financial emergency, meaning that you have had difficulty keeping up with repayments and you have ended up not being able to pay credit you received, such as for a payday loan. You may be worried then that if you are not able to pay back your debts, that you could end up having to go to prison. However, this is simply not the case. We explain how, and what will most likely happen in the event that you are able to make repayments. The lender will […]

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What did the FCA change for the loans industry?

A lot has changed about the Payday Loans industry in recent years, despite the bad and unfair press. The reason why so many things have changed and various improvements have been made to the payday loans industry is because of the takeover of the Financial Conduct Authority (FCA). The FCA took over from the FSA in 2014. Before the takeover, the payday loans industry was under a considerable amount of scrutiny from not only the media but also debt charities and the government. It was the case that many borrowers found themselves in spiralling g debt with little way of […]

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How to save money on your pet

Owning and caring for a pet can be a brilliant experience. Pets bring so much to your life; love, loyalty, company and purpose. However, if you already have a pet you are probably all too aware that they can seemingly become a vacuum on your bank account. No one wants to give up their pet or the chance of having a furry friend. Furthermore, everyone wants the best for their pet without having to break the bank or take out a loan. To help you save money and give your pet the best care, here are some ideas. Adopt, don’t […]

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How to Budget Well

Many people are under the impression that budgeting doesn’t not and cannot work well. That is because some people are simply not taking everything into consideration when drawing them up. Yes, you have thought out your monthly expenses as standard, but what about things like your daily coffee or a weekend away? A budget should be very unique to you and your incomings and out-goings. In this guide, we are going to look at blanket rules about how to best budget your monthly expenses to help you control your cash flow. Why should you budget? Let’s start at the very […]

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Are loans safe for everyone?

Payday loans can help people in a number of different circumstances, particularly if you are experiencing unexpected expenses as a result of an emergency, meaning you need to find cash quickly to help cover costs. However, there are unfortunately certain myths that surround payday loans which can end up putting people off getting one, even when it may help them in their situation. One of these myths that surrounds payday loans regards how safe they are. However, it is completely false that they are not safe. In this article, we will explain how. Payday loans are regulated by the FCA […]

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The small loans industry is worth £228 million in the UK

The payday loans industry is worth an estimated £220 million in the UK, down from around £2 billion quoted in 2013. The industry valuation is based on 760,000 loans funded in 2017 according to the BBC and an average loan value of £300, equalling to £228 million. This same calculation of valuing an industry based on the money lent out is used for other industries including guarantor loans (£400 million), equity release (£3 billion), peer to peer loans (£4 billion), bridging loans (£7 billion) and lending to family and friends (£21 billion) per year. The industry has downsized significantly over the […]

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How does a student loan work?

As we all know, going to university can offer a fantastic opportunity for our futures and for growth as a person. However, such an opportunity does not come without a cost in the UK, unless you are Scottish and attending a Scottish university. So how do you fund such an expensive experience? If you are starting your undergraduate degree in September or October 2018, the fees you will be paying will be up to £9,250 per year (27,750 in total for the three years). This price is just for the fees and you also need to take into account living […]

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How to prepare for retirement

It may be years off or it may be approaching soon for you, either way it is better to be prepared for retirement when it comes to it. Being prepared for retirement means that you will be able to live out your retirement without worry and to its full potential. But how do you prepare for retirement? Around two years before you are planning on retiring, it is a good idea to start thinking about what your options are for retirement and all than choices you will need to make. You can choose when you want to start taking your […]

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