It can be hard to imagine how you might end up taking out a payday loan, and even harder to see how that could get out of control.
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Debt Hacker put payday lenders on warning with the launch of its campaign against unfair high-cost loans to the heart of Government.
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The Government seems to be finally waking up to the fact that millions of Brits have been sold unaffordable high-cost loans and are trapped in a spiral of debt. But the proposal to conduct a feasibility study on an interest-free loan scheme could be too little too late.
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The Debt Hacker campaign may have only just started in earnest, but it seems the Consumer Credit Trade Association is already quaking in its boots.
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Wonga has collapsed. It reaped what it had sown following years of rule breaking. Others will follow.
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Read how Debt Hacker is helping people win compensation from high cost lenders.
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The Financial Times reports how Debt Hacker’s payday loans complaints tool helps people complaint to payday lenders.
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Learn how to deal with payday loans, freeze your debts and stop interest being added.
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Debt Hacker was interview by BBC Radio 4 on how they are making payday lenders bear of the cost of unaffordable lending.
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