Surge in pay day loans raises concerns about unsecured debt

Surge in pay day loans raises concerns about unsecured debt There’s been a jump that is sharp the sheer number of pay day loans, increasing issues about increasing personal debt. The Financial Conduct Authority (FCA) over 5.4 million payday loans were taken in the year to June 2018, according to financial regulator. This comes even close to 4.6 million applied for the year that is previous. The total amount lent in addition has increased considerably. The total value of loans was ?1.3 billion, up from ?1.1 billion between July 2016 and June 2017 in the year to June. The total amount payable had been ?2.1 …

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