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Loan claims: Payday loans 'a problem for many Britons'

A large number of people in the UK are making loan claims for payday deposits and then rolling them over when they are unable to repay the balance.

Georgina Earle, of the ReleaseMoneyGroup.co.uk website and director of Women in Debt, has revealed her belief that payday loans are a major issue in the country.

While she admitted they can help people to make ends meet, they are dangerous when not repaid by the original date.

Commenting on those who take out payday loans, Ms Earle said: "They can't pay it back this week, this month, so they will then roll it into another payday loan - and that is where the payday lenders make their money."

She recommended only using a payday loan when it is certain that the balance can be repaid.

Otherwise, people can run out of control and end up making numerous loan claims as they struggle to stay afloat.

Jennifer Haines
Jennifer's speciality knowledge is credit card changes and balance transfers.ADNFCR-2776-ID-801445142-ADNFCR



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