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Complaints over payday loans double

The number of complaints over payday loans has more than doubled since 2012, new figures have shown, as the Financial Ombudsman warns people to speak up about debt worries.

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Ombudsman: Many with debt struggles feel 'powerless'

The Financial Ombudsman has expressed concerns that too many people struggling to repay loans felt powerless to make a complaint because of the stigma surrounding payday loans.

Principal ombudsman Caroline Wayman said: "We often hear from people who took out a payday loan as a desperate last resort and blame themselves when the debt starts to spiral out of control.

It's important that people don't feel trapped with nowhere to turn because of the stigma associated with short-term lending."

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