In recent months, some of the UKâ€™s biggest payday loan companies have gone to administration after it became clear that their operations are no more viable. Over the next decade, the operations of payday companies flourished at an amazing rate, which saw both the number of companies and the customers going up substantially. FCA guidelines & fall of payday loan companiesHowever, with the. Today five of the seven biggest payday-loan companies in the UK are owned or controlled by a US company. For these businesses now could not be a better time to tap into the UK market. Tim Harford repeated the claim in his article , asking whether the industry was really so immoral, noting that payday lending was up from £100 million in 2004 to £1.7 billion in 2010. In recent months, some of the UK’s biggest payday loan companies have gone to administration after it became clear that their operations are no more viable. The growth story Payday… Read more » The post Why Are UK Payday Loan Companies Going Bankrupt? appeared first on Noobpreneur.com. Tighter rules. QuickQuid is one of the brand names of CashEuroNet UK, which also runs On Stride - a provider of longer-term, larger loans and previously known as Pounds to Pocket. The biggest payday loan companies have been accused by the Office of Fair Trading of irresponsible lending at exorbitant interest rates. They have been given an ultimatum to change the way they. What does payday loan actually mean? The Payday loan companies actually lend loan to its creditors for a short term. These loan are not backed by any security but in-lieu they charge a very high interest rate.Companies only lends money to those who have high salaries and good bank records in past, these are known as salary loan also because the loan is provided based on the salary of borrower. Top 10 Most Reviewed Payday & Title Loan Companies Speedy cash Founded in 1997, Speedy Cash is now an international company specializing in short-term lending and financing. In Nevada, Washington and Oregon, they do business as Rapid Cash, and in. A payday loan (also called a payday advance, salary loan, payroll loan, small dollar loan, short term, or cash advance loan) is a small, short-term unsecured loan with high interest rates. The term payday in payday loan refers to when a borrower writes a postdated check to the lender for the payday salary, but receives part of that payday sum in immediate cash from the lender. Payday loans like Wonga Once the biggest names in payday loans, Wonga collapsed into administration in August 2018. Plenty of similar companies do still exist, however, and we've put together a list of the online short term lenders that are stepping up to fill the void. The best payday loans online are one option if you need to lay your hands on money in double quick time. While the economic downturn means many more people will be considering a payday loan, it is vital to remember that even the best payday lenders charge extremely high rates on the money that they lend.