Business News • MarketWire • Play It Safe With Lending Stream Payday Loans |
Play It Safe With Lending Stream Payday Loans |
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Play It Safe With Lending Stream Payday Loans
EDGWARE, UNITED KINGDOM--(Marketwire - Feb. 15, 2010) - Statistics reveal that people from low-income groups had debt of around £29 million in payday loans by the time the festive season had kicked in. Needless to say, the figures would have doubled, post Christmas. What is shocking is the fact that most of them had borrowed from illegitimate lenders or the 'sharks', as the industry calls them. With an average loan size of £300, which essentially means having to repay twice that amount, the burden on these borrowers is crippling, and they could very well be paying off their loan till Christmas this year. Since they have fallen prey to the loan sharks, their situation can be worse than a nightmare.
View More : http://www.marketwire.com/mw/release.do?id=1116827&sourceType=3
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