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|The nature of consumer debt is changing, says Harrington Brooks|
|Thursday, 30 July 2015|
The latest analysis of the UK consumer debt industry, compiled by leading debt management firm Harrington Brooks, has shown that the nature of the sector is shifting as short term credit becomes less attainable and the cost of everyday living soars.
The firm’s latest Let’s Talk About Debt report has revealed that the influence of payday lenders and other short term credit providers has decreased, as the Financial Conduct Authority’s (FCA) reforms of the sector begin to take hold. The results have been startling. The percentage of Harrington Brooks’ customers with a payday loan in the last year has fallen significantly.
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