Recession and payday loans
Loan against pay
The practice of using payday loans has soared during the recession. Payday loans are a very expensive way of borrowing money over a short period of time, as it is named payday loan you are wise to pay the loan of with your next pay day cheque as it was intended as a loan against your pay for that month.
Some companies who offer payday loans will charge up to %30 on the borrowed figure, ouch!. That is for every £100 borrowed you pay back £130. The least you can expect to pay is around %25, which is £25.00 per every £100 borrowed.
Categories: Uncategorized Tags: emergency cash, payday loan