Cheque Centre planning 12 month loan

[No2PDLs]

Hi,

Just thought this might be of interest. It should be noted that Cheque Centre pulled their pay day loans out on 1st April. Is that a coincidence that it was the same day that the FCA took control of the Pay Day regulation.

Now, on Facebook, they are preparing for a 12 month loan. Cannot wait to see the APRs. Are 12 month loans regulated by FCA?

https://www.facebook.com/ChequeCentre?fref=ts

Look at Lee Fraser's question.

[enaid]

Re: Cheque Centre planning 12 month loan

Blimey telling him FB will be the best place to find out when, what a joke.

[Amethyst]

Re: Cheque Centre planning 12 month loan

This was their 'instalment loan' which they withdraw about the 1st April too. Interesting they are thinking of reintroducing it - they do have interim permission from the FCA okay, we haven't actually found out the actual reason for them stopping PDL's.
http://www.legalbeagles.info/forums/...Loans-Business

[Itsawrap]

Re: Cheque Centre planning 12 month loan

I understand The new product is worse than the Pay Day Loan. the name has changed the practice has not.
Also allegedly they do not have any regard for customer Data Protection at HQ.