One out of five cash advance borrowers were not able to cover the amount of money straight back on time, the that? study states. Photograph: DacCom/Alamy

One out of five loan that is payday were not able to pay for the cash right back on time, the that? study states. Photograph: DacCom/Alamy

Very nearly two-thirds of people that took out high priced pay day loans used the income to cover home bills or purchase basics such as for example meals, nappies and petrol, a study by Which? has revealed.

Continue reading Pay day loan borrowers ‘trapped with debt spiral’