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Payday Loans – Scots urged to report their experiences in CAS survey

27 May 2013

Citizens Advice Scotland want to hear from Scots who have been treated unfairly by payday loan companies in the last 6 months.  As CAB colleagues in England and Wales today publish the findings of a survey of payday loan customers there, CAS is extending the Scottish version of the survey to allow more Scots to come forward and report their negative experiences. The survey is at http://www.surveymonkey.com/s/ScotlandPDLs .

Citizens Advice Scotland spokesperson Lucy Manson says,

“For some time now we have been very concerned about the way that many payday lenders operate. CAB advisers across the country have seen large numbers of people who are drowning in debt because of the actions of payday lenders – particularly things like high interest rates, poor background checks and harassment. 6 months ago the payday loans companies promised they would clean up their act. We have been running a survey to allow people to report whether they are sticking to that promise or not.

“Our CAB colleagues in England and Wales have today published the initial results of their part of the survey, which shows that many payday lenders have broken their commitment to the good practice charter they signed last year. They pledged then to carry out checks on the customers finances to ensure they could afford the loan, and agreed to freeze charges when customers are in financial difficulty. Stories from customers south of the border show that in many cases, lenders are falling short of keeping these promises. Unfortunately, our evidence here in Scotland shows that this echoes Scots experiences.

“But we really want to gather more information on how payday lenders are treating their Scottish customers, so that we can take action against those who are not sticking to the rules. So we urge people to come forward and complete our survey now, if they have any negative experience of payday loans.

“So anyone in Scotland who has taken out a payday loan since 26 November last year can still complete our survey to tell us how they have been treated by their loan company. The survey takes just a few minutes to complete, and the information will be treated in the strictest confidence. The CAS survey can be found at http://www.surveymonkey.com/s/ScotlandPDLs .”

For more information, interviews etc please contact Tony Hutson on 0131 550 1010 or 07774 751655. 

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