Have payday lenders cleaned up their act?
Short-term lender Wonga has launched a new series of adverts in a bid to reinvent itself, following substantial losses in 2014.
The company estimates there are 13 million people in the UK who are struggling with money and are turned down by mainstream lenders. But are short-term loans the answer?
Financial journalist Martin Lewis, Mike O'Connor from the debt charity StepChange, Caroline Wayman of the Financial Ombudsman Service and Russell Hamblin-Boone, who runs the main trade association that represents payday lenders, joined Victoria to discuss the issue.
Duration:
This clip is from
More clips from 19/05/2015
More clips from Victoria Derbyshire
-
![]()
Coronavirus: Inside a UK GP surgery battling the outbreak
Duration: 06:27
-
![]()
'My anti-depressant withdrawal was worse than depression'
Duration: 08:58
-
![]()
Menstrual cup misuse 'can cause pelvic organ prolapse'
Duration: 05:23
-
![]()
Rough sleepers: 'No-one ever asks how lonely we are'
Duration: 14:50
