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Payday loans

Payday loan companies do not treat their customers fairly. Despite the payday loan industry promising to clean up its behaviour, our evidence shows that payday lenders have broken their promises [ 43 kb]. We have been calling for payday lenders to be properly regulated and for them to stop irresponsible advertising.

Caroline's story

"The lender uses an automated phone system to call you when you are in arrears. Despite having emailed several times to say I had been made redundant and was having various medical examinations I received these calls every day which made me feel very boxed in and stressed.

My emails were ignored and my phone calls - which I made several of - were not followed up or recorded on my account so each time I got a new email I had to call and explain my situation all over again." Caroline, 27, Liverpool

Every year we help thousands of people just like Caroline who have had problems with their payday loans.

Campaign success

From 1 April 2014, the Financial Conduct Authority (FCA) is going to impose tough new rules on payday lenders including restrictions on the use of continuous payment authority and rollovers, more stringent affordability checks and a health warning on adverts.

The fantastic efforts from our network of bureaux and supporters over the past two years have secured this amazing success. Actions like contacting your MPs and councillors, raising awareness locally and promoting our survey and film all contributed. We now need to continue this great work to ensure these new rules are enforced.

To help us learn from this success, we've put together a summary [ 100 kb] of everything the campaign achieved along with lessons learned [ 88 kb].

We are still calling for payday lenders to stop using irresponsible advertising practices so don’t forget to get mad about the ad.

Take action

Are you mad about an ad?

If you see an advert for a payday loan that you think is irresponsible or misleading, take action to get it taken down.

  1. Share your ad using #paydaywatch on Twitter OR our Facebook page.
  2. Make a complaint to the Advertising Standards Authority.
  3. Tell your friends and colleagues what they can do to support our campaign.

The rules about the advertising of payday loans are quite complicated so we've made a handy guide of top tips [ 150 kb] to help you out.

Share your story

If you have a story like Caroline's you can share it on our Facebook page or on Twitter using #paydaywatch

#paydaywatch news 2014

1 April – Gillian Guy's latest blog

18 March – Royal Borough of Kingston on six things your council can do now to tackle legal loan sharks

13 March – It’s Mayday for payday lenders in Plymouth

12 March – Financial Conduct Authority (FCA) announces in-depth review into payday lenders’ debt collection practices

10 March – ‘It’s not just about books’: the Northamptonshire library service and payday lending

4 March – Citizens Advice reports seven payday loan adverts to the ASA

28 February – The FCA publishes finalised rules for payday lenders

26 February - How Hannah fought a bad ad....and won!

24 February - Leeds City Council take a stand against high cost lending

13 February - Taking on the loan sharks…and the kangaroos

22 January - Can new rules for payday lenders lead to more debt advice?

15 January - Could real time data sharing stop irresponsible lending?

6 January - How cooperation with the FCA can help consumers

20 December- Gillian Guy blogs about the BIS Select Committee report on Payday lending

12 December - Citizens Advice responds to Ofcom’s research on payday loan advertising. Read our blog and get mad about the ad!

3 December - Citizens Advice submits response to the FCA consultation on regulating payday lenders: Will new FCA proposals make payday lenders change for the better?

26 November - Marking one year of the payday loan industry’s customer charter - Few happy returns for payday loan customers.


Do you need help with your payday loan?

If you need help with your payday loan we can help:

If you've taken out a payday loan you can also take our survey.You can find out if you have cause for complaint and it will help us collect information on how payday lenders are treating their customers.