Payday lender Wonga has revealed to MP?s that it is considering calling in debt collectors to help retrieve unpaid debts, with a trial period set to roll out shortly.
Stella Creasey, the Labour MP who campaigned to reduce the sky high interest rates charged by payday lenders said she was dismayed to see just how many loans the average customers had a year.
?The aim [of payday lenders] is to find people who are going to have to keep on borrowing because the biggest profits come from people who are going to have to borrow and borrow and borrow.?
Source: http://www.chilterndebtmanagement.co.uk/chiltern-press/wonga-warns-tougher-borrowers-payments/
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