The lead up to Christmas has begun with the shops already stocking festive treats and the TV full of adverts to capitalise on the busiest time of the year. It is a most welcome time of year for retailers who need a good season as the recession has hit them hard.
Online PR News – 20-November-2012 – London – The lead up to Christmas has well and truly begun with the shops already stocking festive treats and the television full of adverts to capitalise on the busiest retail time of the year. It is a most welcome time of year for retailers who badly need a good final quarter as the recession has hit them hard in recent months and years.
It is a fun season with many people looking forward to it all year but for some it can be a very stressful time as the financial strains can come to a head in December. It is in the lead up to this time that many people seek financial support and short-term lenders push their products more vigorously as they replicate the trend of retailers.
The challenge here is that the consumer may make hasty decisions and get themselves further into financial trouble as they don’t fully understand the terms under which they borrowed the money or haven’t budgeted sufficiently to pay the money back at the agreed time.
In an effort to position themselves as responsible lenders, some payday loan firms have introduced measures to make sure they are supporting their customers in the lead up to Christmas. One such firm is Early Pay Day who offer Same Day Payday Loans and operate under their Consumer Credit License from the Office of Fair Trading (www.oft.gov.uk/OFTwork/credit-licensing/). They have a dedicated team to answer calls in advance of borrowing and they have easy to find information regarding responsible lending - http://www.earlypayday.co.uk/responsible-lending.aspx.
They make sure you are able to pay the loan back after considering the information provided and also make it extremely clear at every stage how much you are borrowing, what you can expect to pay and when it should be paid back including details of costs for not meeting the terms of the loan. In addition to this, they will never lend to someone they feel cannot afford it, will not push the customer into borrowing more and will always confirm the identities of the customer. These are just some of the measures they are taking but above all they are not a broker of loans, rather a direct lender.
This means they are lending their own money and act on their own behalf not just a reseller who sometimes take a more relaxed attitude to the important measures taken by companies like Early Pay Day.
Tahir Noor, General Manager at EPDL commented, “We take our responsible lending policy very seriously in an effort to distance our practices from those who are less stringent. We have structured our processes so that our company culture is one of the customer’s interests first. That is why we operate under the consumer credit licence and state clearly on our site the APR, our terms and have a special “slider” that will show the amount borrowed and the amount that will be repaid.”
Many other direct payday loan lenders have followed suit and are making the information clear for the consumer to be able to make an informed decision. Early Pay Day has also taken further steps to populate their blog with money saving tips, industry news and updates to help their customers plan their finances and save money.
So this Christmas, as the retailers plan their assault it is a good idea to plan your budget.
Early Pay Day Loans Limited are based in the UK and are a responsible payday loan lender.