By Susannah StreeterBusiness reporter, BBC Information
Earning profits final before the next payday is a vintage issue, however now there are lots of new loan providers providing the solution of a cash advance.
How many people taking one out has quadrupled since 1996 based on the watchdog customer Focus.
That is despite some businesses charging you interest levels greater than 2,500% per year.
The organization happens to be calling in the industry to bring much more safeguards to guard susceptible borrowers.
»Payday loans are really a legitimate kind of credit and it is definitely better for folks to simply just just take one out rather than head to a loan shark,» stated Sarah Brooks, mind of economic solutions at customer Focus.