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Payday lenders nevertheless neglecting to perform credit checks on all borrowers

Payday lenders nevertheless neglecting to perform credit checks on all borrowers

Some payday loan providers remain failing continually to perform fundamental checks to be sure borrowers are able to spend their loans back, brand new people guidance research has uncovered.

More than a quarter of pay day loan borrowers (27%) whom taken care of immediately a study by people information stated they certainly were perhaps maybe perhaps not, or could maybe maybe perhaps not remember being asked any concerns about their financial predicament or ability to settle whenever taking right out a loan.

Those that would not proceed through credit checks had been nearly two times as prone to have trouble repaying their loan as people who did remember having checks, the charity states.