Payday Loan Lenders Just Became Fairer Due to Regulation

ELLESMERE PORT, U.K. - Jan. 21, 2015 - PRLog -- Payday loan lenders in the United Kingdom have recently received bad press. While some have managed to charge customers up to 2000 percent annual rate plus charges in the past, this is not allowed any more. Some companies providing flexible short term finance for people who need urgent cash are, however, going further than reducing their rates. Those who are searching for a payday lender should review the website, terms, and ensure that all details of the agreement and fees are disclosed before signing the agreement.

Fairer Treatment of Customers

One company, Peachy Loans has done more than many other companies providing short term finance. The payday loan company makes three promises for customers: flexible terms, easy, hassle free application process, and terms displayed on screen. Using the slider that is used by many other companies, customers can see how many payments they need to make, and how much they repay in total. They can also see the first payment date, and the interest rate.

What Does it Mean for People With Bad Credit?

People who are looking for emergency cash will be able to plan ahead and know exactly when they have to make a payment. They can get their money as fast as before, but the stricter regulations also mean that their rights are protected. Instead of providing computer-generated decisions, responsible lenders, such as Peachy.co.uk assess every application individually. Companies that follow the rules and practices of the Consumer Finance Association focus on protecting customers and making sure that they do not increase their financial problems further.

While nobody wants to rely on payday loans, life is full of surprises. Unexpected expenses can affect every budget. With the new regulations and guidelines in place, customers can now seek help from lenders who offer fair, transparent terms, and treat all individuals fairly.

To find out more about fair payday lenders, check out our expert review at http://solvemybadcredit.co.uk/peachy-payday-loans-full-re...