Almost half of people struggling with debt say their problems are a result of pay day loans, a debt advice charity has warned. The Debt Advice Foundation (DAF) has claims the high-interest loans are fuelling debt problems in the UK, with 41% of people struggling financially blaming payday loans. But despite frequent warnings about such loans the sector is continuing to grow with online searches for ‘payday loans’ doubling in the past 12 months.

According to DAF research one in four people who had taken out a payday loan needed the money to buy food or essentials for their household, with 44% using them to pay off other debts. Almost half (49%) of those who had used this type of credit felt they hadn’t been fully informed about the rate being charged and the total amount they would...Read more here--> Debt charity warns on payday loans

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