By Susannah StreeterBusiness reporter, BBC News
Earning profits final before the next pay check is a classic issue, however now there are numerous new loan providers providing the solution of a pay day loan.
The amount of people taking one out has quadrupled since 1996 in line with the watchdog customer Focus.
This is certainly despite some organizations charging you rates of interest of significantly more than 2,500% per year.
The organization has become calling regarding the industry to bring much more safeguards to safeguard susceptible borrowers.
»Payday loans certainly are a form that is valid of and it is definitely better for folks to simply take one down rather than head to a loan shark,» stated Sarah Brooks, mind of economic solutions at customer Focus. (más…)