Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

 
Loan claim: OFT closes down payday lenders

The Office of Fair Trading (OFT) has shut down two payday loans companies following the revelation that one of their associates had been convicted of fraud.

Brighton-based payday loan companies, B2B International and Loansdirect2u.com have had their licenses revoked as part of the OFT’s investigations into the business practices of payday lenders.

Payday loans are advertised as short-term loans that can be used to help a consumer meet their financial commitments until they get paid.

The regulator has been looking into the practices of these firms after it came to light that many customers were struggling to repay their debts.

Some customers are not properly checked to ensure they can repay their loans and there have been cases where problems with the lender has stopped them from making repayments and raising the interest as a result.

In March, the OFT gave 50 payday lenders 12 weeks to change their practices.

Amir Hussain

Amir specialises in personal loans, consumer debt and debt management.ADNFCR-2776-ID-801577070-ADNFCR



Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Town
County
Post Code 
Email 
Circumstances
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website www.gov.uk/moj/cmr number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B16, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* 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.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide