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Daniel

Daniel is a loans expert based in London and has been working in the payday loans industry since 2010.

Simple Hacks to Help You Save on Your Energy Bills

Winter can be a challenging time of the year financially – outgoings seemingly increase in all areas. Christmas approaches, bringing with it associated costs, and the colder weather means you are spending more at home, on heating and other utility bills. The costs can soon mount up and it is important to understand ways in which you could be able to save money. We have explored household costs before, in our article How to Save Money Around the House, but winter brings additional costs and more specific areas in which you might be able to save. That is why it is more […]

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Footballers, Dead People and Transexuals – What it was REALLY like to work for a loans company

Payday lenders get a very hard rap and are often criticised for preying on the vulnerable and charging high rates of interest. But what about the customers they work with? The public opinion is that anyone using a payday loan is frowned upon or vulnerable, but this is certainly not the case. I left University and was offered a job by one of the UK’s largest payday lenders and spent hours a day dealing with customers during the application process and the tough job of doing collections. Most customers were nurses, supermarket workers, hospitality and kitchen staff, but what about […]

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Hundreds of jobs at risk after lender The Money Shop faces collapse

Over 400 members of staff at the Money Shop are being faced with the prospect of losing their jobs. The Nottingham based company has started a mass redundancy of 427 staff around the UK. Instant Cash Loans limited (ICL), who are the major pawn broking and cash loans company have released plans to sell of all of the UK stores. They have sent a letter to all its employees. In the letter ICL stated: “The proposal to make collective redundancies is considered appropriate due to the poor financial performance of Instant Cash Loans Ltd (ICL).” They further went on to […]

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10 Ways to Save When You Travel

It’s no secret that travelling abroad can be very expensive, with the UK’s travel and tourism industry predicted to be worth more than £257 billion by 2025. However, it’s also an immensely popular industry, and an expense that travel bugs are willing to take in order to create incredible new memories in far-off lands. But how do people afford to travel so much? And what are some ways to cut back on travel expenses whilst going on holiday? This piece will be exploring 10 of the top ways to save on travel expenses, these being as follows: Free days Social […]

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Mortgage rates fall for those with bad credit

Are you struggling with a bad credit score, and either have a mortgage or looking at getting one? We have some good news for you! It appears in new research that the average rate for credit-impaired borrowers with a mortgage has fallen. Mortgages for those with bad credit Those who damaged their credit score – for example, getting into a cycle of debt with not being able to keep up with repayments for things such as payday loans or guarantor loans – have been well-known to typically receive much higher interest rates – and as a result, higher overall repayments, […]

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Sharp increase in UK borrowers taking out loans

In latest data provided by the Financial Conduct Authority, it has been revealed that there has been a sharp increase in the number of borrowers in the UK taking out payday and other kinds of short-term loans in the last year. It is estimated a staggering 5.4 million loans for people with bad credit were taken out in the year up to June 2018. Comparatively, this is a huge jump when taking account of the statistics for the year previously. The huge increase in payday loan borrowing In 2017, it was estimated that just 4.6 million was taken out for […]

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UK consumer borrowing at four-year low

It has been revealed that the annual consumer borrowing growth rate has ground to a four-year halt, with annual consumer credit growth ending up slowing to 6.6% in December. The statistics, officially revealed by the Bank of England in late January, are in line with other forms of consumer credit growth that has been falling, as more and more households across the country reduce their levels of borrowing for things such as car finance, payday loans for bad credit, personal loans and credit cards. A reduction in Christmas spending. It also reflects a reduction in consumer spending during the festive period, […]

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What is personal finance paralysis?

Find it difficult to make a decision about whether to apply or cancel a credit card or personal loan, or perhaps hesitate on going ahead with that mortgage application or a payday loan for bad credit , or which lender to go with in the first place? Sound all too familiar to you? Well, you may well be experiencing the common phenomena of personal finance paralysis. What is Personal Finance Paralysis? Personal finance paralysis is pretty much self-explanatory, but to be clear, it explicitly refers to a fear of making a wrong personal finance decision. Being scared of making a bad choice […]

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Brits predicted to spend £1bn on Christmas Day 2018

Christmas is a time of year where most of us Brits get spending big time. Some of us even spend way beyond our means only to have to deal with the consequences later by paying off a hefty credit card bill or paying back a payday loan – this is not advisable. Doing so could leave you in high levels of debt and it is simply not worth it for that extra big turkey or those few extra presents which were out of your budget. It is common that people do not just spend a ton of money leading up […]

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Religions and Lending Money

It may be of interest to know that religions have differing opinions on the subject of lending money. The differing of opinions does not come into play until the subject of interest is brought up, for in no religion is lending money frowned upon, but in some, placing interest on the loan is prohibited. We are going to be looking further into this concept in this guide. Although the debate appears to be rather ancient, it is still ongoing in some capacity today in a variety of areas, which we will detail here. Religious Background Typically speaking usury, defined as […]

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