4 Corners

Hi guys,

Apologies for my ignorance here, or if drawing a long bow, but I'm just having a ponder after seeing 4corners from Monday and may or may not be incorrectly drawing a link to FSA.

Is anyone familiar or knows someone that is on these legislated debt repayment scheme's and do they really help customers get out of these debt spirals?? Especially if coming from the PayDay lenders. It was a pretty damning report, even if you try and remove one self from the emotion of seeing families or individuals in ruin from the debt spiral.

Now obviously FSA don't partake in this sector of loan offering, but is anyone actually familiar with the branch of consumer lending that FSA have moved into.

Just getting that awful feeling about seeing people getting taken advantage of. I've contacted Tim and from all accounts they seem like a very trustworthy, accountable and forthright bunch, and I do believe that these regulated agreements are certainly better for consumers than these other types of loan sharks. But as I've said, feeling slightly uncomfortable with my holding in this space now, and want to believe that these guys are out there doing the right thing, but not having the wool pulled over my eyes at the same time.. I guess I will probably answer my own questions when I do a bit more research but at the moment I'm essentially having a ramble at this point and hoping someone else with a bit more expertise and nous about the sector will shed some light.

Alright, cheerio all, have a good easter break, to those reading.