Exciting New Appointment for My Payday Loan
(ContentDesk via ContentDesk Direct) April 26, 2006 -- As part of its continuing growth, MEM Consumer Finance Ltd, parent of My Payday Loan has appointed a new member to its Senior Management team.The company, which operates three other payday loan brands in addition to My Payday Loan: Month End Money, PayDay UK, and Payday Store; is joined by Nick Auchincloss as Head of Corporate Development.Nick has joined the team to explore new avenues and business opportunities for the company within the short term loan and financial markets. A former Sales Manager at leading UK loan company, HFC Bank plc and FX brokers, Exchange Direct plc, he has recently project managed sponsorship programmes for organisations including the Ministry of Defence, Playmobil, LEGO and Coca-Cola. He has also consulted on a number of projects within the payday loan industry itself.Nick explains how this varied experience will help in his new role: Ive been lucky to have had some great opportunities in the past and joining MEM will allow me to make the most of the skills Ive learnt. In my previous roles Ive worked in both business to business and business to consumer environments, giving me a good feel for consumer needs and business partnerships, both essential in my new job. Ive always enjoyed working on new projects from developing new insurance products at HFC Bank to going racing with the Territorial Army! MEM offers me the perfect opportunity to continue doing this and doing it well! Payday loans are an exciting new product in the financial market, providing a short term financial cushion for customers in the prime market .Some of the new products Nick Auchincloss has been working on since joining the business are already in the testing and pilot phases and will soon be available to the consumer.
When developing new products, its important to ask, Is it something I would buy? , and a few things have come to mind that offer our customers an extension of the payday loan service they already enjoy. There wont be major scale changes to our core lending business, merely the introduction of complimentary products that meet different needs .In addition to looking at new products, Nick will be working on ways of streamlining the business to maximise efficiency and the speed of response to My Payday Loans customers. The customer is all important and with the growing awareness of the payday loan industry and increase in applications for what are effectively top-up loans, we need to continue our business development to maintain and improve our high standards of customer service , Nick states.Iain McKenzie, CEO of MEM Consumer Finance Ltd commented on the new appointment, Nick comes with a wealth of relevant experience which will help us in successfully delivering short term financial solutions to the consumer. The presence of a strong senior management team allows our loan advisers to focus on providing excellent customer service when offering payday loans .NOTES TO EDITORS:My Payday Loans offers loans between ?80 and ?1000 (subject to status) repayable on the customers next payday. Payday loans are helpful to people to bridge unexpected financial shortfalls or provide additional funds from time to time as the need arises.
Applying for a payday loan could not be easier anyone finding themselves caught unexpectedly short before payday just needs to go online to Payday Loans and fill out the bespoke application form which is then automatically processed. The customer is immediately given an indication of whether or not they qualify for a loan and provisionally and for how much they would be approved. They are can then send the necessary documentation across quickly and, if approved, have their funds deposited the same day. Existing customers have it even easier in most cases they can complete loan renewals online, always helpful in the event they need that little extra cash.My Payday Loan is a trading name of MEM Consumer Finance Ltd, a wholly owned subsidiary of MEM Capital plc.For more information contact: Kirsty Auchincloss, COO, MEM Consumer Finance LtdTel: 0871 550 0072.
Payday Loans ? The Legal Loan Sharking Industry
Laws have been created to protect people against "Loan Shark" practices in which short-term loans are given out at excessive interest rates. There is an industry that has come of age the last couple of years that has circumvented these laws. Enter the Payday loan industry.Payday loans is a some-what new multi-billion dollar industry in which people borrow money to tithe them over until their next payday. These loans also go by the names cash advance loans and paycheck loans. They prey on the lower class that find themselves short of money before a payday.The one thing to consider when looking into a payday loan is the APR or Annual Percentage Rate that these loans carry.
At first glance, you may think paying $240.00 for a loan of $200.00 for two weeks is ok. The A.P.R of this loan comes to a whopping 520%. That is the amount this loan would cost if played over a years time. Compare this with a high interest credit card of 29%. When you see it compared to these numbers, you can...
Payday Loans ? The Legal Loan Sharking Industry
Payday loans > Payday Loans ? The Legal Loan Sharking Industry
Payday Loan
Does "I just need enough cash to tide me over until payday." sound familiar
to you? I'm betting it does. We constantly find ads to this effect on the
radio, television, the Internet, and even in the mail. The type of loan being
referred to, of course, is payday loans. And they come at a very high price,
too, by the way.
Payday loans have become a way for people to get fast cash.
Check
cashers, finance companies and others are making small, short-term, high-rate
payday loans that go by a variety of names. Sometimes, they're called cash
advance loans, check advance loans, post-dated check loans or deferred deposit
check loans.
But how do payday loans work? Well, usually, a borrower writes a
personal check payable to the lender for the amount he or she wishes to borrow
plus a fee. Afterwards, the company or the lending institution would then give
the borrower the...
Payday loans > Payday Loan
Payday Loans ? The Legal Loan Sharking Industry
Laws have been created to protect people against "Loan Shark" practices in which short-term loans are given out at excessive interest rates. There is an industry that has come of age the last couple of years that has circumvented these laws. Enter the Payday loan industry.Payday loans is a some-what new multi-billion dollar industry in which people borrow money to tithe them over until their next payday. These loans also go by the names cash advance loans and paycheck loans. They prey on the lower class that find themselves short of money before a payday.The one thing to consider when looking into a payday loan is the APR or Annual Percentage Rate that these loans carry.
At first glance, you may think paying $240.00 for a loan of $200.00 for two weeks is ok. The A.P.R of this loan comes to a whopping 520%. That is the amount this loan would cost if played over a years time. Compare this with a high interest credit card of 29%. When you see it compared to these numbers, you can...
Payday Loans ? The Legal Loan Sharking Industry
Payday loans > Payday Loans ? The Legal Loan Sharking Industry
Payday loans
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