What rolling over or extending a payday loan means, the FCA limit of two rollovers, how the total cost cap applies and better options if you can’t repay.
Category: How They Work
Costs, repayment terms and what lenders check.
The FCA Price Cap on Payday Loans, Explained With Examples
How the FCA price cap on high-cost short-term credit works: the 0.8% daily limit, the £15 cap on default fees and the 100% total cost cap, with worked examples.
How Payday Loans Work in the UK
What payday loans are, how they’re regulated by the FCA, how much they can cost, how repayment is collected and what to check before you borrow.
Continuous Payment Authority: How Lenders Take Repayments and How to Stop Them
What a continuous payment authority is, the FCA limits on how payday lenders can use it, and how to cancel one through your bank if you need to.