Financial stress can lead to poor decision making

In light of the recent report that the FCA has been forced to ban a payday lender for "reckless" practices, individuals in financial difficulty must ensure they obtain best advice before making drastic decisions and borrowing more money.

Their findings have shown that customers were often treated unfairly and frequently misled. Complaints were often disregarded, and on occasion significant funds were taken from customers’ bank accounts. This resulted, in some cases to further financial loss for the customer, a proportion of whom were already in financial difficulties.

Source: Insolvency News

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