By Susannah StreeterBusiness reporter, BBC Information
Earning profits last before the next pay check is a vintage issue, however now there are numerous new loan providers providing the solution of the cash advance.
How many people taking one out has quadrupled since 1996 based on the watchdog customer Focus.
That is despite some businesses recharging rates of interest in excess of 2,500% per year.
The organisation happens to be calling in the industry to bring much more safeguards to guard susceptible borrowers.
»Payday loans are a definite legitimate type of credit and it is definitely better support check into cash loans com for individuals to simply just just take one down rather than head to that loan shark,» stated Sarah Brooks, mind of monetary solutions at customer Focus. (más…)