By Kevin Peachey Private finance reporter
Pay day loan complaints have increased sharply however the set of gripes about financial loans continues to be dominated by re payment security insurance (PPI). How many complaints about payday loan providers a lot more than tripled to 4,186 when you look at the half that is first of 12 months compared to the last 6 months. The Financial Ombudsman, which compiled the numbers, stated borrowers had are more alert to their liberties. The payday industry stated that the proportion that is falling of had been upheld.
The figures will always be dwarfed by PPI complaints, which totalled 91,381 within the 6 months to June, accounting for 54% of the latest situations considered because of the ombudsman. There have been 169,132 brand new situations on the publications associated with the ombudsman when you look at the very first 1 / 2 of the 12 months. (more…)