My Bag 0 items - $0.00 0

payday loans pueblo co

Financial obligation difficulties with high expense credit services and products in the rise as cash advance problems fall

Financial obligation difficulties with high expense credit services and products in the rise as cash advance problems fall

Today more and more people are struggling with debts for guarantor loans and rent to own credit products, Citizens Advice reveals.

The charity claims there’s been a shift when you look at the high price credit market once the amount of people looking for assistance for issues with these sub-prime items has increased by 16per cent throughout the last 12 months (from 1,962 between April and June 2015 to 2,272 in identical duration in 2010), as the amount of people with pay day loan financial obligation dilemmas has reduced.

Over the past year people information aided 7,500 individuals with lease your can purchase financial obligation dilemmas, 1,100 with guarantor financial obligation dilemmas and 460 with logbook loan dilemmas.

payday loans Kentucky

Because the introduction of the price-cap on payday financing in 2015, the number of people coming to Citizens Advice for help with payday loan debts has fallen by more than a half (53%) january.

Read more