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Payday loan providers bite right straight back: 'Don't contact us loan sharks'

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Everybody else this indicates has a story that is shocking pay day loans. Even my taxi motorist.

"My spouse's uncle borrowed ?500 to correct their vehicle, and today he owes them ?16,000. This has completely ruined him, " he states.

Sick and tired with such tales, and pilloried by MPs, local authorities, papers and even the Archbishop of Canterbury, the pay day loans industry has become fighting to boost its reputation.

"Our detractors are miscommunicating by calling this industry loan sharking that is legal. Since it is blurring the sides for folks in regards to what that loan shark happens to be, " says Caroline Walton, business affairs manager of Dollar Financial UK, which has the cash Shop.

Therefore for the very first time in its 13-year history, the biggest payday loan provider in the high-street consented to provide the BBC use of certainly one of its branches.


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