Experiences of pay day loans wanted

Tue, 21 May 2013

People who’ve taken out a pay day loan are being asked to share their experiences.

The Office of Fair Trading is trying to determine if the Island has a problem with the short-term money lending service.

A recent report by the UK OFT concluded there are fundamental problems with the way the pay day market works there.

A confidential online survey has been set up to gauge people’s views and experiences to determine if new legislation needs to be brought in.

Chief officer Mike Ball says the first step is seeing if there is a problem:

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