Payday loan providers nevertheless cashing in with sky-high charges

Payday loan providers nevertheless cashing in with sky-high charges

Will be the federal federal government’s new pay day loan restrictions sufficient to keep short-term borrowers away from difficulty?

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Short-term loan industry keeps growing

Final updated: 01 2014 july

Payday advances have actually made economic matters more serious for a lot of individuals – but that featuresn’t stopped the lenders from hunting for brand new borrowers.

Among the payday loan businesses that are biggest in Australia, UK-based Cash Converters, is certainly going gangbusters, showing an income enhance of 38% for the 3rd quarter for the 2014 monetary 12 months (closing in March) compared to exactly the same quarter in 2013. Continue reading Payday loan providers nevertheless cashing in with sky-high charges