Published on October 9th, 2014 | by FinanceLoophole0
Can’t Pay Cash Lady Payday Loan
Cash Lady offers payday loans to its customers with a massive interest rate of 2670% APR. This means that if you borrow £200 for a 28 day period, the total you will repay to them is £258 (£58 interest). They will arrange a loan for you as long as you meet their criteria – at least 18 years old – Employed and in receipt of a regular income, and resident in the UK with a UK bank account. Their Walt Disney inspired website looks as if it has been designed to appeal to women who are looking for a payday loan to tide them over. It does however say in its FAQ section that men are just as welcome to apply for a loan.
Cash Lady is not a payday lender company but instead acts as an intermediary/broker between its customers and the loan company but they do not charge any fee. They refer your loan request to an real loan company such as Wonga, QuickQuid, PayDayUK among others. They say they are “quick, easy, simple. We take the hassle out of finding a loan” those who owe them money don’t think they are taking the hassle out of loans.
Because Cash Lady are a brokers they will sell on your details to a real payday loan lender so you may well get hassle from them as well. A number fo people who we have spoken to say that they have been bombarded by txt messages and phone calls after signing up with them – so be warned. Read our warning article Payday Loan Middlemen Warning about the problems of dealing with a payday loan broker.
Read on to find out what you need to do to help you pay off your outstanding payday loan with Cash Lady.
You may well remember Cash Lady as the company that was widely criticised back in 2013 over an advertising campaign featuring Kerry Katona (Atomic Kitten Singer and reality TV celeb). After complaints the Cash Lady adverts were changed to remove the phrase ‘Fast Cash for Fast Lives’. The advertising standards watchdog believed that this implied a payday loans would help fund a high-flying celebrity lifestyle. In July 2013, Katona was declared bankrupt for the second time, and was dropped by Cash Lady. One month later the advertising watchdog ruled that Cash Lady could no longer use Katona in adverts, as she was too heavily associated in people’s minds with debt.
I can’t pay Cash Lady payday loan – what can I do?
If you are having problems paying your payday loan, first – don’t panic! it’s very easy to get overwhelmed with the problem of repaying a debt and the possibility of it growing rapidly. It does not need to be something you have to deal with alone. It is a common problem people deal with and not something you need to be worried about. A few simple steps can relieve you of the problem and put your mind at rest.
Always remember that it is in the payday lenders interest to make sure you are able to repay the loan. They will do just about anything to make sure that you are able to make the repayments or even to drop the debt altogether in certain situations.
- Make sure you read our Don’t pay charges and interest on your payday loans – free guide . It’s got some top tips on how to avoid interest on late payments.
- Don’t miss out on our free templates and letters
Make sure you have had a good look around our website and if you still cannot find the advice or help you are looking for I would advise that you either contact me directly using the form on the right hand side of this page. Or if you prefer you could ask the debt management company that we work closely with to help you. Just click on “Bright Debt Solutions” and they will be sure to get you sorted out quickly, they don’t have any hidden charges or fees.
Ok what are my rights for a Cash Lady payday loan?
The Office of Fair Trading Irresponsible Lending Guidance say that lenders have to treat their borrowers who are in financial difficulty fairly and with patience. In effect this will mean that they should work with you and set up a reasonable repayment schedule which is suitable for your circumstances.
If your payday lender does take any action against you because you have fallen back on payments of your payday loan, they must be “proportionate” in what they do. That means that they cannot reposes your car just because you haven’t paid your payday loan of £200.
Cash Lady (part of the Money Gap Group Limited) is authorised and regulated by The Financial Conduct Authority (FCA). If you believe that Cash Lady Payday lender has been irresponsible or has acted disproportionately towards you, you should complain about the lender to the FCA.