RE: CALLED THE FCA FOR CLARITY!!!!21 May 2021 10:57
People knock this as some kind of preying loan shark. The company made money providing a service, to risky borrowers that had a history of defaulting, and bad credit. Because of the increased risk, a higher APR is needed to offset against those that do not pay, and require a guarantor.
If people paid their debts, they could go to mainstream lenders, but they didn't, so can't. Ultimately, they should stop borrowing money they clearly cannot afford, then complaining when they can't pay it back as they spent it at the bingo, and on cheap plonk