Guardian Comment - 27.4.2012 - Pointless market Research on PDL Companies - ACTION NEEDED!!

[toptrapper]

http://www.guardian.co.uk/money/blog/2012/apr/26/payday-loans-misunderstood-research-lacks-credibility

 

Guardian have commented on probably the most biased, pointless, credibility lacking research I've ever read; released from the Credit Services Assocation - the mouthpiece/ trade body for PDL companies. To be fair, coming from the CFA I'm hardly surprised at the content.

 

Can I ask a favour? Anyone that has the serious misfortune to have dealt with PDL's comment on the Guardian blog (see the link) to raise awareness of the fundamental flaws of the research and highlight the true activity of these companies.

 

To kick off, the report claims that "The survey found that 93% of payday loan company customers think payday lenders treat them with dignity and respect,". There are enough threads and enough posters on here to contradict this claim.

 

Get posting.

[Blossom99]

That makes me want to kick something!

[toptrapper]

Channel your frustration by commenting on the Guardian!

[Blossom99]

Believe me I will

[sillygirl1]

I've tried commenting but it won't let me.

 

This is very biased reporting on one niche lender who is not representative of the mainstream PDLs such as Wonga, Toothfairy et al.

 

This 'paid for' advertising could be complained about as it is unrepresentative, we do not know on what basis the 300 were chosen nor what 'methodology' was used to come up with the research in the first place.

 

I would surmise done over a more generic customer base that the CFA would have a totally different report.

[sillygirl1]

Its also in Credit Today - what a useless mouthpiece that is!

 

There is also this in the Daily Mail, apparently lifted from the Independent so the writing style is much better than the usual DM nonsense

 

http://www.dailymail.co.uk/news/article-2135861/Collection-firms-chasing-58bn-debt-figure-jumps-6bn-just-SIX-months.html

 

Be interesting to find out how much of that is attributable to PDL companies and the breakdown....

[Guest Poguesy]

I took part in their survey.

 

I told them how pleased i was with the service i received from all my payday loan lenders, along with their caring and helpful attitude towards those in financial difficulties

[Space2001]

It is interesting that the first comment under the article supporting the so-called research is from a guy from Paymex. Paymex have a number of companies one of which is Evolution Money who offer Guarantor and secured loans at 63.5%. http://www.evolutionmoney.co.uk/ Oh and they are also a payday loan broker http://www.circleloans.co.uk/payday-loans.asp - I tried to put this information on the Guardian website but for some reason it did not work.

[toptrapper]

I took part in their survey.

 

I told them how pleased i was with the service i received from all my payday loan lenders, along with their caring and helpful attitude towards those in financial difficulties

 

Sir/Madam, I like the cut if your jib!!!

[toptrapper]

It is interesting that the first comment under the article supporting the so-called research is from a guy from Paymex. Paymex have a number of companies one of which is Evolution Money who offer Guarantor and secured loans at 63.5%. http://www.evolutionmoney.co.uk/ Oh and they are also a payday loan broker http://www.circleloans.co.uk/payday-loans.asp - I tried to put this information on the Guardian website but for some reason it did not work.

 

Good call Space2000, I've attempted to add a comment challenging Paymex and their interest rate. Will see if this one stays on.