2013 Customer Survey

In May 2013 we conducted a questionnaire of over 10,000 recent customers. From those that responded over 90% of people received their money within 24 hours.

Here are some of the things our customers have said about our service:

“There has been a lot of stigma surrounding payday loans of late and this and of cause can be somewhat off-putting at times. It can be difficult to know who to trust with so many lenders out there today but I’m glad to say that I made the choice for me! It’s great to know there is a provider I can trust! It was a simple and straight forward procedure and the costs were up-front and clear and I received my funds much sooner than anticipated. Thanks!” – Fiona F.

“A Very good, quick and efficient service” – Marc M.

“The service standard was good compared to other companies” – James W.

“The best thing about using the website is it’s simplicity” – Krista E.

“Quickness is the best thing about using the website” – Carole J.

“One of the responsible providers out there that provide help to those that truly need it and can afford to repay it” – Carl S.

“Really good and simple service” – Joseph G.

Bella eats Payday Pig on YouTube

Someone has sent us in another “fan” references to Payday Pig found on the internet, this time on YouTube.  Here we see a video of Bella the dog eating a payday pig.  We would like to say no animals were injured in the making of this film…

youtube_paydaypig

Move over OFT, here comes the FCA…

A big shake up in the way the short term lending industry regulates its business is being introduced.  This is a very welcomed and positive move which has been well received within the industry.

As of 1st April 2014 the Office of Fair Trading (OFT) transfer its powers regarding Consumer Credit Firms to the Financial Conduct Authority (FCA).

All Credit Consumer businesses must apply for authorisation to continue with their activities to the FCA by April 2014.

The improved policies offer increased consumer protection and introduces a more regulatory approach with companies.  The benefits require companies to conduct their business with integrity, communicate clear information to the client and financial prudence to mention but a few.

Whilst not quite in place yet, the process will also apply to the majority of European Economic Area countries (EEA) who wish to conduct consumer credit activities within the UK.  Management presence in the UK for example will be required to comply with Threshold Conditions.

The main purpose for this new directive is to increase consumer protection and introduce a more regulatory approach with companies.

Change is not without its challenges and with those changes come several compliance and operational requirements which must be followed. The FCA have the authority to bring civil and criminal proceedings to those who do not adhere to the new directive which would have a major impact on one’s business and reputation.

Moving forward, the new regulations offer improved safeguards, compliance and structure formats for both client and lender.

Further information and more detailed benefits on the FCA can be found using the following link: – www.fca.org.uk

April 2014 here we come.

PayDay Pig by BogBrush on Mixcloud

More “fan” material was spotted, this time some funky bass by BogBrush on Mixcloud.

Please get in touch BogBrush as we would love to show our appreciation…

We are now a member of the CCTA

Stop Go Networks (the company who operate Payday Pig) are now members of the CCTA (Consumer Credit Trade Association) – membership number CCTA983.

Becoming a member of the CCTA is more important now than it ever was, particularly in the current economic climate.  With the relentless barrage of new regulations and reforms that target the credit industry on a regular basis, the CCTA offer a strong lobby voice particularly for the stand alone business.

Following industry recognised Codes of Practice demonstrates our credibility and reliability to both customers and regulators.

In addition, the CCTA outline a Good Practice Customer Charter specifically relating to payday or short term loans. The charter includes carrying out appropriate assessments and credit vetting and explains in no nonsense terms to the customer, the type of information that was considered in reaching a decision.

The new directives will identify poor practice and give customers improved protection. Following through on these new rules will help eradicate malpractice and improve the reputation for the companies that do follow the charter.

Please click on the links below for further information and a detailed overview of the CCTA membership benefits.

Visit www.ccta.co.uk

Payday Pig on eBay

 

More “fan” references to Payday Pig when a Payday Pig figurine was offered on eBay.  It didn’t achieve any bids however!  If we had spotted it sooner we would have made sure it had reached its 99p minimum bid.

 

The Pros and Cons of Moonlighting

Working two jobsIt’s no great surprise that, despite the economy being strained and large numbers of people finding it difficult to get work, a significant proportion of the population are working at least two jobs. The term moonlighting used to refer to someone who had a secondary form of employment, separate to their main source of income, which they worked during their ‘off’ hours.


Although this is still essentially the case, changes in the employment market have created new opportunities for additional earnings that are far less easy to define.

Most people associate moonlighting with a desire to earn extra money but that isn’t always the case. Although those who are desperately trying to pay off debts or find they simply don’t earn enough money from their day jobs make up the majority of moonlighters, some have other motivations.

If you want to switch careers, taking a part time entry-level job within your chosen profession while continuing to work your main job can be a great way to gain some experience of the new profession. Working two jobs also doubles the opportunity for networking – something that could could have a positive effect on your future career. 

There are also those who simply enjoy working and find they have too much time on their hands, even if their main jobs are secure and relatively well paid.

A report issued by Her Majesty’s Inspectorate of Constabulary at the end of 2012 found that 23,000 serving police officers – more than one in ten of the total working in England and Wales – have second jobs.

Police officers are allowed to moonlight if they seek permission from their superiors and stay away from pubs or private security work where there may be a conflict of interest. Despite these rules, investigations were carried out in hundreds of cases leading to 65 warnings and 10 dismissals for breaching rules.

Provided all your employers are aware of the situation and adjust your taxation accordingly, you are allowed to have as many jobs as you like. It is those who work a second job for cash or fail to declare additional income that risk difficult.

Modern technology means many people are able to moonlight from the comfort of their own homes. The Internet has led to a major growth in the so-called ‘shadow economy’ with an increasing number of people making money from selling items on eBay and other online marketplaces.

Though Her Majesty’s Revenue and Customs will more or less turn a blind eye to anyone selling a few items every now and then to de-clutter, many people are generating second incomes of tens of thousands of pounds from online sales but failing to declare tax or National Insurance on the money they make.

Last year HMRC launched a campaign to clamp down on this form of tax avoidance, using software which trawls auction sites and compares identities to existing tax records. Both eBay and PayPal have been known to release information about the identities and earnings of account holders to the police on request.

Those caught face fines of up to 100% of any tax owed – enough to almost wipe out any additional earnings for those paying tax at the higher rate.

Whatever your reasons for moonlighting, it pays to ensure you are operating within the law and being fully compliant with current tax legislation. Failure to do so could leave you seriously out of pocket.