An important British payday loan provider has exited the solitary instalment payday loan market (i.e. loans that must be repaid in one lump sum) and promised to change the real method it gives loans and treats customers struggling to settle their debts, following an understanding using the Financial Conduct Authority (FCA).

Also as not any longer selling solitary instalment payday loans, Cheque Centres Limited (Cheque Centre) has additionally stopped its business collection agencies phone calls to clients until it displays to the FCA that improvements were made. Cheque Centre has agreed a great many other actions using the FCA so that it can meet with the brand new regulatory regime, while the FCA will appoint a talented individual to try the modifications. Continue reading