Loans

MoneySavingExpert.com is urging the Government to urgently clear up confusion after it emerged thousands of people who defer student loans taken out between 1990 and 1998 will now have this information added to their credit files. This is despite ministers promising there would be no real change for borrowers after the loans were sold to debt collector Erudio Student Loans last year.

If Barclays, Lloyds or RBS/NatWest have offered you payment protection insurance (PPI) redress on a loan since 2012, you may be owed £100s more.

The Financial Conduct Authority (FCA) has promised "tough and decisive action" against payday lenders that don't follow strict new rules, after taking over regulation of the consumer credit market from the Office of Fair Trading (OFT) today.

The Government has rebuffed MoneySavingExpert.com's calls to ban payday loan adverts from children's TV.

The way payday lenders collect debts and deal with borrowers who owe them money will come under the spotlight next month with an official investigation.

Consumers using peer-to-peer firms will be better protected when lending and borrowing money under new rules coming into force next month.

Payday loan adverts from Wonga, Pounds to Pocket and Peachy.co.uk have been reported to the advertising watchdog by Citizens Advice.

Teachers in England are being encouraged to use cartoon videos and other resources to teach children about the dangers of using loan sharks, along with how to manage their money wisely.

Payday lenders will have to make sure their customers can afford their loans and face having misleading ads banned under new rules to crack down on the industry.

The number of people experiencing problems with payday loans soared last year, according to leading debt charity StepChange.