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How costs can go mad with a payday loan Borrowing money is easy. Paying it back it a little more difficult. Lets look at how the cost of a payday loan can get out of control.
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Payday firm, CFO Lending (£34 million), Ariste Holding Limited (£20 million) and Dollar Financial UK (£15 million) made a deal to pay over about £65 million in redress to its customers. They made an agreement with the Financial Conduct Authority (FCA) to provide compensation to their borrowers for unfair practices.