People who are considering taking out a payday loan may discover it is more financially prudent to make a payment protection insurance (PPI) claim.Recent research from R3 found that 45 per cent of British consumers are finding it hard to make their incomes last between monthly pay checks and that has resulted in 3.5 million thinking about using a payday loan.The study found that 60 per cent of individuals who have already used the high interest form of credit regret the decision, while 48 per cent believe that payday loans have made their financial position worse."Payday loans are not the best way to resolve debt struggles. We know that many who take them out find them to be a negative experience, often escalating financial troubles," stated Frances Coulson, president of the group.Consumer Focus' director of financial services Sarah Brooks said that the regulation of the payday loans sector needs to improve.Amir HussainAmir specialises in personal loans, consumer debt and debt management.
Belmont Thornton Ltd. is regulated by the Ministry of Justice in respect of regulated claims management activities; our registration is recorded on the website www.claimsregulation.gov.uk number 18273
Belmont Thornton Ltd. is incorporated in England and Wales, Company number 6621233, whose head office and registered office is at Suite 2, Unit 25, The Coda Centre, Munster Road, London, SW6 6AW. VAT Registration number 945 3375 06.
Belmont Thornton Ltd is registered with the Information Commissioners Office to ensure compliance with the Data Protection Act 1998 registration number Z1728023 and holds a Credit Consumer License issued by the Office of Fair Trading license number 634655.
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* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.