Exactly what are “unaffordable” loans?

Had been that loan affordable simply because you been able to repay it?

No! If spending a loan kept you therefore broke you had to borrow again – through the lender that is same a different one – it absolutely was unaffordable!

The regulator claims:

“the debtor will be able to result in the needed repayments without undue difficulty, whilst continuing to satisfy other financial obligation payment responsibilities and reasonable regular outgoings.”

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