1. Short-term loans What to expect from your lender in 2015 2. All sorts of people use short-term loans 3. But borrowing money is an important decision 4. So pick a lender that offers the right protections 5. So they will carry out thorough checks on your financial situation and creditworthiness 6. And they want you to understand how much it costs to borrow so they will explain it clearly 7. There is a limit on how much you will pay Never more than double your original loan 8. A lender will not attempt to withdraw funds from your bank account more than twice You can cancel this automatic payment but must pay another way 9. Lenders will contact you 3 days before they take payment. If you are struggling, be honest and tell them so they can help. 10. If you need it, lenders want to give you flexibility to repay your loan 11. Lenders are not allowed to rollover your loan more than twice So your loan can never become a long term debt 12. They can refer you to free independent debt advice And tell you how to make a complaint If youre in financial difficulty, lenders will be sympathetic 13. Protect yourself by avoiding illegal lenders Check they are authorised by FCA Check for trade association membership Look out for poor spelling and grammar and lack of detail about the business If in doubt Dont enter your details 14. Thank you for watching