14:03 24 April 2013
Payday loans are a fact of life for many in the UK, though the interest rates are notoriously high. The Payday loan industry is currently undergoing tremendous changes which will benefit many current and prospective customers if they find themselves in need of money.
Many times we encounter financial struggles and before we know it, we have neither the credit rating to enable us to help ourselves out with a loan, or the means to improve our credit rating.
We’re stuck in a vicious cycle, but the financial needs continue undeterred. While payday loans should not be the first place you try if you need fast money or a short term loan, the reality is that we often don’t have much of a choice.
The good news is that plenty of changes will be happening to impose more regulations and consumer-friendly methodologies.
What to expect for payday loan experiences in the future:
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