Payday Loans Consolidation Companies

Payday Loans Consolidation Companies

First let’s outline what a payday loan is.

Payday loans are a type of debt individuals obtain from short term lenders. These lenders provide the loans usually for about two to three weeks at which time the total amount, plus a fee is due to be paid back.

The problem with this type of debt is that many people find it difficult to get back on track and repay the debt in full with their next paycheck and many people end up re-loaning. Read more

Criticism On The Pay Day Loans In The UK

Criticism On The Pay Day Loans In The UK

Payday loans in the UK are increasingly taking centre stage in the financial market due to the aid they give to local citizens. However, there are some critics who have come out strongly to object these services stating that they are horrendous and all they do is exploit the citizens.

Firstly, they note that payday loans drain money from low-income communities. Read more