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Let me make it clear about weight To Pocket and Flex Credit launch the 12-month cash advance

Let me make it clear about weight To Pocket and Flex Credit launch the 12-month cash advance

Payday lenders such as weight To Pocket and Flex Credit are stepping into the medium-term loan market with 12-month pay day loans.

Despite stress to completely clean the industry up, payday loan providers providing short-term high interest loans are expanding to the medium-term loan market by providing 12-month loans at sky-high prices.

A Google that is quick search a raft of organizations offering loans spanning a 12 months at 278per cent APR. These generally include weight To Pocket, Flex Credit and 12monthloans.co.uk.

The loans are marketed in a way that is similar pay day loans: they boast easy online financing decisions, fast transfer of funds and high approval rates. Repayments are created via your debit bank or card account.

A number of the businesses providing 12-month loans additionally usually promote on daytime television which implies they’re targeting the unemployed.

It does not appear to be accountable financing does it?

Prices and fees

12-month loan lender weight To Pocket costs 278% APR. Read More

Let me make it clear about weight To Pocket and Flex Credit launch the 12-month cash advance Payday lenders such as weight To Pocket and Flex Credit are stepping into the medium-term loan market with 12-month pay day loans. Despite stress to completely clean the industry up, payday loan providers providing short-term high interest loans […]

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