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Money Box Live

Financial phone-in. How has the payday lending market changed since a cap on charges was introduced?

New rules imposed on payday lenders by the regulator which included capping the amount people were charged so they never have to pay more than double what they borrowed, have been in force since Jan 2015. Since then, the number of people going to Citizens Advice for help with these kinds of debts has fallen by more than a half. But is it all good news for borrowers? Should the regulator now look to regulate other forms of high cost credit?

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30 minutes

Related links


Fair for you

National Debt Line - 0808 8084000,

StepChange - 0800 138 1111,

Citizens advice bureau - Help with debt


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