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Payday loan charges 'becoming more commonplace'

Brits could be increasingly likely to face payday loan charges, statements from an expert have indicated. founder Jasmine Birtles explained this funding option has become "a lot more mainstream" in recent years.

Some people who are receiving a decent salary are even using payday lenders, she added.

The expert previously claimed Brits who are taking out payday loans to pay for normal living expenses are likely to be in serious financial difficulties.

Other forms of finance are also commonly used, with certain individuals who used credit card charges to pay for Christmas paying off their debt into June or July, the specialist remarked.

Some members of the public still believe it is important to go on a good holiday and buy presents and are "not managing to live within their budget", she suggested,

Pawnbrokers might be experiencing better business at present, Ms Birtles added, stating: "It isn't just payday loans and credit cards companies doing well, it is all the others."

John Fieldman
Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.ADNFCR-2776-ID-801345068-ADNFCR

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