Payday Loan Deemed Most Expensive Forms of Loan

Payday Loans Deemed Most Expensive Forms of Loan

Research from price comparison service, uSwitch.com, has found payday loans offer quick and easy cash. However, they are one of the most expensive forms of UK loans, with some APR’s of up to 9889.3%.

A consumer with a payday loan of £750 could end up owing £1,687.50 if they defer repayments for five months.

It is advisable payday loans are best reserved as a product of last resort. As loan interest rates offered may not be competitive by comparison to high street rates.

If you are in serious debt contact Wilson Field for free advice. We can find the best solution for you, whether it is an Individual Voluntary Arrangement or Personal Bankruptcy.

Wilson Field never force you to take action and are here to advise you and guide you to the most appropriate solution for your particular problem.

If you found this article informative and helpful...Please Share!

Leave a comment

Related posts

Sign up for our newsletter and support Neurocare’s ROSA robot project…

Our newsletter is full of financial advice for businesses and individuals and latest news.

We are helping Neurocare to fund their ROSA machine. This state of the art robot is the first of its kind to be brought to the UK and installed in a NHS hospital here in Sheffield. - Read More

Currently for every newsletter sign up we receive, we will donate £2 to Neurocare.

Disclaimer: We guarantee privacy with your information and you will not receive spam emails for us.