Debt Articles International Debt

Load Me Up on Payday Loans Say Some UK Residents

Consumer Credit Counselling Service of the UK is reporting they are seeing more people with multiple payday loans who are contacting them for help.

So far in 2012 they say about 2,000 clients have contacted them with five or more payday loans. The numbers got higher, 173 had ten or more as compared to 42 in 2009.

With purse strings getting tighter it’s no surprise payday loans look like an attractive and easy place to get money to deal with a financial crisis.

Delroy Corinaldi, CCCS external affairs director, said: “Payday loans are not the cheapest form of credit, but some people find them useful and are able to repay what they owe at the end of the month. However, multiple payday loans can very quickly become unmanageable.

“Measures must be put in place to ensure more people don’t find themselves in this situation, and the CCCS calls on the payday loan industry to address this issue urgently.”

Sincerly,
Steve

You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.


READ  How Do I Locate All My UK Debts? - Edward



About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

Leave a Comment

Scroll to Top