Under the new rules, interest and fees cannot be higher than 0.8% per day, compa…

Under the new rules, interest and fees cannot be higher than 0.8% per day, compared to between 0.4% and 4% per day currently, and if borrowers default on the loans the charge for that cannot be more than £15. What most people are likely to be pleased about though is that repayment costs will be capped at double the amount borrowed.

Source by portafinaUK