...one issue that has come up often elsewhere is this notion that payday lenders can ultimately (if they went to court) only claim the amount lent plus only one month's interest. No one can give me the legal/oft basis for this and I reckon it's an urban myth. The reason I was digging around for this info is that my brother has taken out a payday loan for £430 and within a 1 1/2 months (he's a plumber and took time off work) finds himself owing £850!! Anybody have any ideas? thanks
I've not heard it either but rather think it could be wrong.
Hopefully a more,knowledgeable poster will be a le to help.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
