Comments on: OFT will look into payday loans http://www.glitec.co.uk/2008/09/oft-will-look-into-payday-loans/ Loans, Mortgages and Debt Help Sat, 06 Mar 2010 15:09:30 +0000 http://wordpress.org/?v=2.8.6 hourly 1 By: direct payday lender http://www.glitec.co.uk/2008/09/oft-will-look-into-payday-loans/comment-page-1/#comment-1802 direct payday lender Thu, 19 Nov 2009 20:32:40 +0000 http://www.glitec.co.uk/?p=216#comment-1802 Why payday loans cause such suspicion? In all times people need money. By the way more then they have now. It's normally. All we want live good today no tomorrow. Or right now. We have possibility to incarnate our dreams. And all we knows that we must pay for it after all. So let people make their dicission theyselves. Why payday loans cause such suspicion? In all times people need money. By the way more then they have now. It’s normally. All we want live good today no tomorrow. Or right now. We have possibility to incarnate our dreams. And all we knows that we must pay for it after all. So let people make their dicission theyselves.

]]> By: Adrian http://www.glitec.co.uk/2008/09/oft-will-look-into-payday-loans/comment-page-1/#comment-164 Adrian Fri, 02 Jan 2009 01:24:19 +0000 http://www.glitec.co.uk/?p=216#comment-164 I have to agree with Grant's comments above. I have read numerous articles about pay day loans and all of the adverse comments that some of these customers have made regarding the escalating interest rates that they have had to pay when they could not afford to pay the loan off. The key to understanding their predicament is simply by reading the above sentence - they have taken out a loan that they cannot afford to repay on the date that they have said they can repay it. Now, forgive me for being blunt, but isn't it the responsibility of the borrower to ensure that they are able to make the repayments before taking out any type of loan? The big difference between pay day loans and other types of loans is that the customer is only required to make one solitary payment to clear the debt. If they were in any doubt as to whether they could afford to make that one payment then they should not have taken out the loan. They then find it all to easy to attack the lender for lending them the money in the first place! Pay day loan, cash til pay day, pay day advance - it's in the description!!! You will have to pay it back on PAY DAY. I have to agree with Grant’s comments above.
I have read numerous articles about pay day loans and all of the adverse comments that some of these customers have made regarding the escalating interest rates that they have had to pay when they could not afford to pay the loan off. The key to understanding their predicament is simply by reading the above sentence – they have taken out a loan that they cannot afford to repay on the date that they have said they can repay it. Now, forgive me for being blunt, but isn’t it the responsibility of the borrower to ensure that they are able to make the repayments before taking out any type of loan? The big difference between pay day loans and other types of loans is that the customer is only required to make one solitary payment to clear the debt. If they were in any doubt as to whether they could afford to make that one payment then they should not have taken out the loan. They then find it all to easy to attack the lender for lending them the money in the first place!
Pay day loan, cash til pay day, pay day advance – it’s in the description!!! You will have to pay it back on PAY DAY.

]]> By: MICHAEL http://www.glitec.co.uk/2008/09/oft-will-look-into-payday-loans/comment-page-1/#comment-163 MICHAEL Mon, 17 Nov 2008 17:23:32 +0000 http://www.glitec.co.uk/?p=216#comment-163 I'VE TAKEN OUT A SHORT TIME LOAN FROM A PAYDAY LOAN COMPANY BEFORE THAY ARE SHORT TERM LOAN'S YET IF YOU NEED THE CASH QUICK THAY ARE CHEAPER THAN BANK'S I’VE TAKEN OUT A SHORT TIME LOAN FROM A PAYDAY
LOAN COMPANY BEFORE THAY ARE SHORT TERM LOAN’S
YET IF YOU NEED THE CASH QUICK
THAY ARE CHEAPER THAN BANK’S

]]> By: Grant Moneymaker http://www.glitec.co.uk/2008/09/oft-will-look-into-payday-loans/comment-page-1/#comment-162 Grant Moneymaker Sat, 01 Nov 2008 13:28:03 +0000 http://www.glitec.co.uk/?p=216#comment-162 Its all very well investigating and regulating the payday loans industry, but at some point individuals have to take responsibility for their own actions, there's no point blaming the payday loans industry for the mess some people get themselves into financially. Anyone who takes out a payday loan should educate themselves about the loans the same way they would any other consumer product before purchase. Perhaps if lenders where forced to display a standard "payday loans warning" when offering the product it would force some people to think twice, but I can't think of any other action by the OFT that would be fair to both parties. Its all very well investigating and regulating the payday loans industry, but at some point individuals have to take responsibility for their own actions, there’s no point blaming the payday loans industry for the mess some people get themselves into financially.

Anyone who takes out a payday loan should educate themselves about the loans the same way they would any other consumer product before purchase. Perhaps if lenders where forced to display a standard “payday loans warning” when offering the product it would force some people to think twice, but I can’t think of any other action by the OFT that would be fair to both parties.

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