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How financial ombudsman is trying to stop payday loans spiral out of control – The Guardian

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The Guardian

How financial ombudsman is trying to stop payday loans spiral out of control
The Guardian
On one side is a borrower who takes out a payday loan of £100, makes no attempt to repay it and does not answer the lender's calls. On the other is the lender who not only nearly trebles the debt by adding £175 in default charges but also makes 128 ...

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