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Citizens Advice supports OFT’s Review into Payday Lending

24 Chwefror 2012

Gillian Guy, Chief Executive at national charity Citizens Advice said: “This review is urgently needed.

"Four times more people are coming to us with payday loan problems compared to a couple of years ago. Worryingly, more and more people are being treated unfairly, being offered loans they can't afford to repay and put onto rollover loans with huge interest rates and charges.

"People in long-term financial difficulty with other debts are much more likely to take out a payday loan to try and deal with these problems.

We're very pleased the OFT is taking steps to clamp down on unacceptable practices in the payday lending industry. We want to see them take swift action to root out the rogue lenders once and for all."

Notes to editors:

  1. The Citizens Advice service comprises a network of local bureaux, all of which are independent charities, the Citizens Advice consumer service and national charity Citizens Advice. Together we help people resolve their money, legal and other problems by providing information and advice and by influencing policymakers. For more see the Citizens Advice website.
  2. The advice provided by the Citizens Advice service is free, independent, confidential, and impartial, and available to everyone regardless of race, gender, disability, sexual orientation, religion, age or nationality.
  3. To find your local bureau in England and Wales, visit citizensadvice.org.uk. You can also get advice online at adviceguide.org.uk
  4. You can get consumer advice from the Citizens Advice consumer service on 03454 04 05 06 or 03454 04 05 05 for Welsh language speakers
  5. Citizens Advice Bureaux in England and Wales advised 2.3 million clients on 5.4 million problems from October 2013 to September 2014. For full 2013/2014  service statistics see our quarterly publication Advice trends
  6. Citizens Advice service staff are supported by more than 21,000 trained volunteers, working at over 3,000 service outlets across England and Wales.