Payday loans are becoming increasingly popular, as more people are struggling to make ends meet. The loans are intended to plug a short-term gap in your finances and you can usually borrow between £100 and £500 over 31 days.
Payday loans are not for everyone. The annual interest rates can be as high as 4000%, so you need to be absolutely certain that you will clear the debt with a month - and that you will not need to top up the loan. Read our guide to payday loans for some impartial advice.
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