Citizen's Advice latest to go after payday loans
The CAB are dealing with increasing numbers of people who have been stung by loan firms, and have urged people to report the firms to the ombudsman responsible for financial services, after they estimated that 76% of cases it examined, borrowers had grounds to take a complaint higher.
And today, they'll be launching a month-long campaign calling for payday customers "not to let predatory lenders get away with treating them unfairly."
They also drew up a list of activities by loan firms which are grounds for complaint, including out-and-out fraud, people being chased for loans they had not taken out, pestering calls and texts, scandalous levels of debt and hardship caused by some lenders and more.
Citizens Advice chief executive Gillian Guy said: "The level of debt and hardship caused by some payday loans is absolutely scandalous and people often feel completely powerless to do anything about it."
Complaints can be made to the Financial Ombudsman Service consumer helpline on 0300 123-9123 or 0800 023-4567 or emailed to [email protected]