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Why are payday advances along with the FOS Complaints List?

The Financial Ombudsman provider suggests that payday loans UK were among the list of greatest from the FOS complaints list for upheld complaints within the year that is past. Fifty-five per cent of almost three thousand complaints had been upheld. It was a brand new record for complaints manufactured in the cash advance sect!

One other kinds to come near had been self-invested pensions that are personal re payment security insurance coverage. These had upheld prices of sixty-six % and fifty-seven respectively. But, they would not receive so many complaints as payday advances into the place that is first. Why might it is that payday advances gotten a lot more complaints compared to the sleep? Continue reading