Uswitch comments on eye-watering increase in payday loan complaints
Following the publication of the Financial Ombudsman Service’s latest quarterly complaint figures and in response to a 500% increase in payday loan complaints, Tashema Jackson, money expert at Uswitch.com, says: “The eye-watering increase in payday loan complaints over the last three months suggests that, despite the changes the regulator has made to the industry, many short term lenders are still giving their customers cause for complaint.
“For people who have been turned away from traditional lenders, it’s simply not fair that they feel their only option is payday lenders who are failing to treat their customers fairly.
“If you feel you have been treated unfairly you should complain to your provider, and if they don’t sort it out, escalate it the Financial Ombudsman Service.
“And if you do find yourself trapped in a cycle of debt, don’t ignore your commitments – speak to a debt charity, like StepChange, about how they can help.”
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Email: rory.stoves@uswitch.com
Twitter: @UswitchPR
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