Payday loans lender speedeloans re-affirms the need for responsible lending
In a statement issued today, Gary Miller-Cheevers, CEO of www.speedeloans.com, has expressed his concerns over payday loans companies exploiting vulnerable customers – and tainting the image of the payday loans industry.
This is in the wake of recent press reports where lenders appear to be targeting specific groups such as the military or students.
Mr. Miller-Cheevers from speedeloans says: “As a responsible payday loan lender, we have no desire to add to the woes of students or any other group that clearly are likely to have difficulty meeting a financial liability.
“Surely there are enough genuine borrowers who require a short term loan until payday, without having to trawl minority groups, such as students for example, who by definition may not be as financially savvy as mainstream working adults?”
He added that speedeloans only lend to full time employees, restricting lending to an affordable level dictated by their take home pay, and even then declining up to 90% of all applicants.
Mr. Miller-Cheevers hit the headlines last week by endorsing a push for capped interest rates on short-term borrowing by MP’s.
CONTACT:
Gary Miller-Cheevers, speedeloans.com, CEO, telephone: 0844 879 3199 or 07545 148121, email: gmc@speedeloans.com
Stella Hulott, Speedie PR, telephone: 01843 831088 or 07932 750271, email: stella.hulott@speediepr.co.uk
ABOUT US:
speedeloans.com is a practical alternative to banks that can no longer help their customers with their short term financial needs. Privately backed by people who understand our customers, our mission is to provide instant decisions and two hour money whenever they need it.
We are at the cutting edge of modern consumer finance by offering small, short term loans online with real speed and ease. We are flexible and paper free which means you can apply using our easy-to-use website whenever you need cash in a hurry. We have a consumer credit licence from the Office of Fair Trading.
In August 2011 we won an award for “Most Responsible Lender” which we welcome as proof that we are doing the right thing both for our own business, but also more importantly, our customers.
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