Research from Amigo Loans identifying the risk of 'supersize loans'.
The Sun, 15 Jan 2014
Research from guarantor loan firm Amigo found one-year loans are the preferred alternative for consumers who cannot access mainstream credit.
But 29 percent who have taken them did not understand the difference between their loan and a payday loan.
James Benamor, CEO of Amigo Loans, said:
The lending industry seems to go from one set of crooks to another but these are big corporate organisations. Many are owned by the same companies behind payday loans. They are essentially trying to rebrand to skirt the new regulations.
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