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Wonga to pay £2.6m compensation for Debt Collection shame

The UK's best known pay day lender 'Wonga' has been ordered to pay over £2.6m in compensation after it was found to have sent...

FCA to review Debt Collection practices of Payday Lenders

Payday money lender firms have long been criticised for expensive interest levels and also apparent simplicity assisting the UK population with escalating numbers of...

Debt Collection firms lose licence

OFT gets tough The Office of Fair Trading has deemed three Debt Collection companies as 'unfit' to hold consumer credit licenses and refused to renew...

OFT to review unfair gym contracts

January always sees a surge in gym membership. Now the OFT is cracking down on unfair terms and conditions in the long contracts people are made to sign

OFT issues new Debt Collection guidelines

The OFT has also published revised Debt Collection Guidance, focusing on continuous payment authority (CPA), a mechanism commonly used by payday lenders to collect repayments.

Breaking: OFT begins investigations into Lenders Debt Collection practices

The OFT has opened formal investigations into several payday lenders over aggressive debt collection practices.

Office of Fair Trading vows to get tough

A new guidance from the Office of Fair Trading (OFT) is set to triple the amount that businesses can be fined for stepping beyond permitted competition boundaries.

Payday Lender Fined Half a Million Pounds After Being Duped By...

A payday lender has been fined more than half a million pounds and had its licence revoked after falling victim to fraudsters who successfully impersonated thousands of people to take out loans.

Payday Lender Fined £500,000 After Fraud Scam

A payday lender has been fined more than half a million pounds and had its licence revoked after falling victim to fraudsters ...

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