Instant money loans: Payday loan firms are ruining lives

Lenders typically do not check the credit history of borrowers for these loans and only consider the value and condition of the vehicle that is being used to secure it. Zara Tindall leaps fence on her horse Class Affair in show-jumping event at Blenheim Horse Trials The Queen's granddaughter Sofia Vergara flaunts her famous curves in form-fitting ensemble on Modern Family set Showing off her curves back on the set Hilaria Baldwin shares snap on Instagram of family celebrating son's second birthday with vegan cake Vegan birthday celebrations Kristen Stewart says the upcoming Charlie's Angels reboot will be more 'woke' with a global spin Star set for new Charlie's Angels flick 'Let's talk about why it's lazy': Evidence of collection activities for defaulted loans and related Forms R, if applicable. Individuals abroad and more. America's Got Talent winner blasts airline for losing his ventriloquist puppets for the THIRD time in angry video and putting his show in jeopardy Julianne Moore, 57, flashes her bare legs as she enjoys a date night with husband Bart on the red carpet of her latest thriller Bel Canto 'This is for Dennis':

Navigation menu

RELATED ARTICLES ☀☀☀☀☀ is Cash Advance & Payday Loans Up To $ You Can Also Apply By + Lenders Or Call: - Largest provider of Debt Consolidation Solutions in Australia – Consolidate debt, Reduce repayments, Save thousands in interest. Talk to the Experts today! With annual interest rates around percent, payday loans are called exploitative by critics. But the industry says those rates are necessary.

Analyse Where You Are


London stock market closes down; Boohoo Online fashion retailer Boohoo poaches one of High Street Jaguar Land Rover to cut production at UK car factory by House purchases in London showing green shoots of Rogue trader behind one of biggest losses in City's Major Unilever investor says it will vote against the Thousands of Tesco jobs at risk as it prepares to swing History tells us automation does not Ovo Energy raises price of its standard tariff and axes Royal Mint set to auction the 'most Redundancy payout calculator Dragons' Den: Who is the richest?

Comments 6 Share what you think. Search All Articles Share prices. What you need to know about global funds - and finding the world's best places to invest When is a good time to start investing - and how can you cut the risks? International Biotechnology Trust manager. Do you know how your pension is invested? Other firms have set up glamorous websites that target young women, giving the impression that taking the loan is socially acceptable.

It can be horrible having to choose between things like that and bills but you can have the best of both worlds with Cash Lady. Yet you will pay APR of an eyewatering 16, per cent with this firm.

The temptation is that this may not seem such a large amount over a short period. In just one month the amount you owe the company would have more than doubled. Other statistics from insolvency industry tradebody R3 estimate that two million women plan to take out payday loans over the next six months — 25 per cent more than the number of men.

They claim they are not as expensive as their interest charges suggest because their loans are meant to be taken out over the short term — so it is not fair to calculate their interest on an annual basis.

Many lenders will hit you with large fees if you need extra time to pay back your loan. MP Stella Creasy has warned of the troubles for women taking out quick-fix loans. Labour MP and anti-debt campaigner Stella Creasy says young, working women are often the perfect prey for these firms.

They are targeting a particular group of young women who are great customers for them because they are financially vulnerable. Last year, a report from accountancy firm RSM Tenon showed that many women were drowning in debt, making up a record-breaking 49 per cent of all insolvencies last year. All too often it falls to family members to step in and rescue young relatives whose loans spiral out of control. A year-old Mail reader, who wished to remain anonymous, so worried is he of the stigma of debt, says he had no idea of what a payday loan was until a few weeks ago.

But he learned a cruel lesson after a late-night call from his year-old granddaughter, Charlotte, a care assistant. The reader, who lives in Manchester, says Charlotte had no idea how many loans she had taken out or how much she owed. Estelle Girard-Bellamlih, 35, says her social life ground to a halt as she battled to pay back payday-loan debt. Mrs Girard-Bellamlih, who is French but has been living in London for 12 years, has been forced to work seven days a week for months to pay back her borrowing.

The care assistant took out a series of high-interest loans to pay her rent, when she found herself short of cash after starting a new job on a lower salary. But I was very worried when I found I had to extend it and found it had increased so dramatically. Payday firms in the USA have limitations set by the government. By contrast there are far tighter regulations in other countries.

No such regulation exists in the UK, which may explain why it is being targeted by so many lenders. Miss Creasy is calling on the Government to tighten up the rules around these firms. She also wants the Government to promote other cheaper forms of borrowing, such as Credit Unions, for those who cannot get cash from their banks.

Just how many more young women need to be pushed into debt before the Government takes action? The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline.

Monday, Sep 17th 5-Day Forecast. Soon-Yi Previn heads to a pilates class just hours after breaking year silence to bash her 'vengeful' mother Mia Farrow and defend husband Woody Allen in bombshell interview Shark attack victim's best friend describes trying to save the year-old by dragging him to shore and using a boogie board strap as a tourniquet, as victim's aunt reveals she warned him not to go in the Cape Cod water 'An old lady complained that her food came out too FAST': Scientists determine four entirely-new personality types that everyone falls into — average, reserved, self-centred, role model — based on study of 1.

Sean Penn criticizes MeToo movement for aiming to 'divide men and women' and says 'we don't know what's a fact in many of the cases' Wall Street salaries are at their highest since the financial crisis, as new report shows securities industry profits are set to beat 'They both laughed as Kavanaugh tried to disrobe me': Full letter Christine Ford sent to Sen.

How women are being seduced into debt by payday parasites: Share this article Share. Share or comment on this article: Payday loan firms are ruining lives e-mail. Most watched News videos Palestinian teenager stabs Israeli man to death at West Bank mall North Carolina residents face severe flooding from Florence Fearless year-old customer helps fight off armed robbers David Budd put on indefinite leave and has his arms confiscated Charlotte Teeling and Richard Bailey kiss inside a supermarket CCTV footage shows Charlotte Teeling dancing alone hours before she died Joe Biden says he regrets not speaking up against Trump Shocking moment woman is savaged by Staffordshire bull terrier Masked gang throw rider off bike and repeatedly stomp on his head Dramatic moment wedding is hit by typhoon in the Philippines Police cordoned Prezzo branch in Salisbury after 'couple fell ill' Richard Bailey uses Teeling's card to get food after he killed her.

Teenage rapist admits to horrific sex act against a Of course I shook his hand' On-the-run murder suspect, 55, finally turns himself in Skimpy outfits, Nike TN shoes, lollipops and fake tan In doing this when something happens you can use those funds to pay for your needs instead of using a credit card. For many people consolidating all of their unsecured debts into one payment can help make monthly payments easier to manage and more affordable. It becomes increasingly important for you to consider the costs you face, including interest rates, over the limit fees and late fees.

By consolidating you may be able to get a lower interest rate or you may be more organized with just one payment to be made each month. To consolidate the debts you have, consider debt consolidation loans. You can get these loans as personal loans unsecured or as secured loans, such as a home equity loan. Either option is a good way to go if it offers you enough to pay off your debts with a lower interest rate. Find out if you qualify for these loans.

Bankruptcy should be considered as a last resort but if you have reached the stage where you simply are unable to repay your creditors you should consider bankruptcy. Bankruptcy will allow you to wipe the slate clean and begin anew.

Bankruptcy does have many drawbacks and consequences but is rarely as bad as people image. If you are considering bankruptcy you should discuss it thoroughly with an expert such as a bankruptcy trustee or the Australian Financial Security Authority.

Fox Symes is the largest provider of debt solutions to individuals and businesses in Australia. Fox Symes helps over , Australians each year resolve their debt and take financial control. If you are in debt and want to know more about the solutions available to you contact us on or fill out the short contact form.

We help over , Australians each year resolve their debt and take financial control. For further assistance we recommend you:.