Introduction
There are plenty of adverts on TV just now pushing the benefits of payday loans. As a short term solution to a financial problem some think they are good, while others think that these types of lender prey on people, who cannot get a bank loan, are not eligible or have a bad credit history. Many take out these loans unaware of the interest rate they are paying plus borrowing money until pay day only means that when it arrives and the loan has to be repaid you once again are left short of money. So, let’s take an in depth look at payday loans.