Payday Loans
Payday lender Sunny goes into administration
Payday loan provider Sunny has collapsed into administration and will no longer be offering new loans
29 June 2020
Mis-sold Wage Day Advance payday loan customers will get back less than 6% of compensation claims
Compensation will be just 5.68p in every £1 as administrator KPMG says there's no more money available for claims
22 May 2020
Mis-sold Wonga customers to get 4.3% of compensation claims
Those who were mis-sold payday loans from Wonga before it collapsed will receive just 4.3% of the compensation they're owed, according to the firm's administrators
30 January 2020
Steep rise in payday loan claims – but 1,000s are being stung by unnecessary fees
The number of complaints against payday loan firms soared by 130% in the past year, new figures from the the financial watchdog show. But the majority of claimants are using claims management firms, meaning they won't get the full compensation payout if successful.
16 May 2019
Mis-sold customers of Wage Day Advance and Juo Loans won't be given full compensation
Administrators for payday loan providers Wage Day Advance and Juo Loans, which collapsed in February, have admitted that customers who are owed compensation will only receive a "partial payment" for their claims
3 April 2019
Payday lenders told to offer compensation
The financial regulator has written to payday lenders today telling them they must compensate customers who were sold unaffordable loans
15 October 2018
Wonga goes into administration - what it means for you & Martin Lewis's view
Wonga has gone into administration, marking the end of the road for the UK's largest payday loan firm. Below you can read MoneySavingExpert.com founder Martin Lewis's view
31 August 2018
Actor Michael Sheen to take on high cost lenders
Hollywood actor Michael Sheen has launched a new campaign to tackle high cost credit
20 March 2018
Four in 10 workers have had no pay rise in the last year, poll of MSE users finds
Forty-one per cent of those in work have not had a pay rise in the past year, according to a new poll of MSE users
15 November 2017
Guest Comment: FCA on why “fundamental changes to unregulated overdrafts may be necessary”
The FCA's Chris Woolard sets out what the FCA has learned in its review of high-cost credit and where it will focus next
31 July 2017
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Within the last week, we've seen the extension of coronavirus credit card, personal loan and overdraft help to 31 October 2020, with mortgage payment holidays already extended. The regulator's other help schemes are also likely to be extended too, including car finance and payday loans, yet should you do it?
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