{"id":85256,"date":"2018-04-14T13:00:15","date_gmt":"2018-04-14T06:00:15","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/wonga-2-0-meet-the-new-breed-of-payday-lenders\/"},"modified":"2018-04-14T14:04:03","modified_gmt":"2018-04-14T07:04:03","slug":"wonga-2-0-meet-the-new-breed-of-payday-lenders","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/wonga-2-0-meet-the-new-breed-of-payday-lenders\/","title":{"rendered":"Wonga 2.0? Meet the new breed\u00a0of payday lenders"},"content":{"rendered":"


\nA new wave of credit firms is offering \u2018medium-term\u2019 loans at hefty APRs of up\u00a0to 1,421% The worst of the payday lenders, famed for offering short-term loans at sky-high interest rates, may have faded away, but vulnerable consumers are still being targeted with offers of loans with four-figure APRs.The medium-term loan market, where money is lent for three to 12 months, is thriving with some lenders charging well over 1,000%, frequently to those on the lowest incomes, or unable to borrow from the traditional banks. These loans appear to work on the same premise as payday loans \u2013 a fast online or mobile application process, and money in your account quickly. Continue reading…
\n
\nSource : theguardian.com
\nRead more…Wonga 2.0? Meet the new breed\u00a0of payday lenders<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A new wave of credit firms is offering \u2018medium-term\u2019 loans at hefty APRs of up\u00a0to...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-85256","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-mb6","jetpack-related-posts":[{"id":26690,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/archbishops-criticism-of-payday-loans-causes-reform-of-industry\/","url_meta":{"origin":85256,"position":0},"title":"Archbishop's criticism of payday loans causes reform of industry?","date":"September 21, 2016","format":false,"excerpt":"\r Justin Welby, the archbishop of Canterbury, expressed his displeasure with companies including Wonga in 2013. A lot has since changed \u2013 though not everythingIn 2013 the Archbishop of Canterbury, Justin Welby, declared war on Wonga and other payday lenders crucifying borrowers with 5,000% interest loans. Three years later it\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":25397,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/short-term-loan-history-from-workhouse-to-wonga-shows-things-are-getting-worse-letters\/","url_meta":{"origin":85256,"position":1},"title":"Short-term loan history, from workhouse to Wonga, shows things are getting worse | Letters","date":"September 8, 2016","format":false,"excerpt":"\r In 1797 Patrick Colquhoun was worried about pawnbrokers. Colquhoun, a Glaswegian merchant and magistrate, had co-founded a soup kitchen in London that aimed to \u201calleviate distress\u201d among working families. Colquhoun believed that the provision of nutritious and healthy soups would not simply assuage immediate hunger. He hoped it would\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":89592,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/doorstep-lending-crackdown-to-save-vulnerable-from-debt\/","url_meta":{"origin":85256,"position":2},"title":"Doorstep lending crackdown to save vulnerable from debt","date":"May 27, 2018","format":false,"excerpt":"\r Financial Conduct Authority to take action after schemes continue to flourish despite cap on payday loansMeasures to clamp down on doorstep lending and rent-to-own schemes are expected to be unveiled this week following concerns that they are fuelling problem debt.The action comes after warnings that vulnerable people are at\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":26179,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tory-mp-suspended-from-commons-for-leaking-report-to-wonga\/","url_meta":{"origin":85256,"position":3},"title":"Tory MP suspended from Commons for leaking report to Wonga","date":"September 15, 2016","format":false,"excerpt":"\r Justin Tomlinson apologises for leaking details of consumer credit report to payday loans companyA Conservative MP has been suspended from the Commons and ordered to apologise by a parliamentary watchdog for leaking details of a report into consumer credit to the payday loans company Wonga.Justin Tomlinson, until July the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":55675,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/credit-union-for-retail-workers-aims-to-fend-off-payday-lenders\/","url_meta":{"origin":85256,"position":4},"title":"Credit union for retail workers aims to fend off payday lenders","date":"May 23, 2017","format":false,"excerpt":"\r The retailCURe credit union is backed by several large high street stores and offers loans and savings productsJohn Lewis and Debenhams are among the high street names backing a new credit union for the retail sector, officially launching today, which aims to help shop workers \u201cavoid the clutches\u201d of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12726,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dangerous-payday-loans-join-guns-and-drugs-on-googles-banned-ad-list\/","url_meta":{"origin":85256,"position":5},"title":"'Dangerous' payday loans join guns and drugs on Google's banned ad list","date":"May 12, 2016","format":false,"excerpt":"\r $46bn industry banned from advertising on most visited site in the worldLenders use extremely high interest rates and target vulnerable peopleGoogle announced a ban on search ads from payday lenders on Wednesday, classifying them in their \u201cdangerous products\u201d category with guns, tobacco and explosives. Banning ads from payday lenders\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/85256"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=85256"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/85256\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=85256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=85256"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=85256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}