Payday loan firms are unfair to borrowers, says OFT [More] Exception: Stack empty.

One in seven households has relied on high-interest credit like payday loans or unauthorised overdrafts to pay their rent or mortgage in the past 12 months, according to homeless charity Shelter. Around 7 million househ... [More] Exception: Stack empty.

Millions of borrowers are considering payday loans with interest rates of more than 1,000% as a stopgap because they cannot afford to repay their debts, according to a study by an insolvency trade body. Almost half of h... [More] Exception: Stack empty.

Consumer champions are concerned that payday loans are pushing borrowers in to a cycle of debt.As the cost of living rises and householders struggle to pay bills, business has doubled for payday loan firms.Payday loans a... [More] Exception: Stack empty.

Demand for payday loans has increased by 58 per cent since the May bank holiday, which could be a dangerous trend as these could lead to debt problems. Price comparison site moneysupermarket.com revealed these figures a... [More] Exception: Stack empty.