FOS focuses on payday lending: FOS deals with payday lending in the latest edition of its "ombudsman news" and in an insight report. Both publications note the fact that complaints involving payday loans refer mostly to:
- their impact on credit reports;
- debt-chasing and collection processes;
- use of continuous payment authorities;
- fraud, where consumers claim not to have taken out a loan;
- inability to agree a debt repayment plan; and
- poor administration.
In a press release, FOS has also warned about the increasing amount of complaints in relation to credit broking websites that charge without having facilitated the loan. (Source: Press Release, Report and Ombudsman News)