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Massive increase in payday doorstep and lending loan complaints

There has ben a huge increase in how many complaints to your Financial Ombudsman provider (FOS) about payday advances and home financing.

How many cash advance complaints has increased by 64% within the this past year and experts believe the increase could suggest individuals are perhaps maybe not being addressed fairly, despite brand new laws being in position to guard them.

Year complaints about home credit, sometimes called doorstep lending, rose even higher with a 146% increase on last.

Increasing volumes

FOS accessibility consultant Lauren Garrett stated: “Over the past few years we’ve highlighted the increasing volumes of men and women telling us they’ve had trouble after borrowing money. Continue reading

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