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Pay Day Loan Brokers – Be careful where you go!

You may have read the recent story in the press, about a high number of complaints from customers who had been “ripped-off” by payday loan brokers.

Now we have already talked about the perils associated with increased online payday loan companies, but the other key part of this story is rogue brokers who have allegedly charged customers up to 3 or 4 times for the same service, or have taken payments from customers without proper authorisation. 

If youa re looking to deal with a broker, make sure you know who you are dealing with. Speak to them before handing over any money, or meet them if you can. Make sure that you have the confidence in them that they are genuine and have understood your requirmeents. A broker which doesn’t listen to you, is likely only going to be concerned with themselves and not have your true requirements at heart. It is also worthwhile to check out their credentials, how long they have been established for, and whether or not they are approved by any organisations, such as the NACFB.


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