Wednesday, January 04, 2012 3:56:00 PM
Over the past 12 months almost one million people have taken out a payday loan to help pay their rent or mortgage, according to a new Shelter survey.The chief executive of Shelter said "these shocking findings show the extent to which millions of households across the country are desperately struggling to keep their home. Turning to short-term payday loans to help pay for the cost of housing is totally unsustainable. It can quickly lead to debts snowballing out of control and can lead to eviction or repossession and ultimately homelessness."
Payday loans carry extremely high interest rates. NFS can offer secured loans (see Find and Compare Loans page on this website) or unsecured loans (contact us for more information). In both cases APR will be a fraction of that charged by payday loan companies.