According to one cash loans provider, seven out of every ten adults in the UK suffer from debt, yet many refuse to confront the problem and seek help, instead allowing the problem to get out of hand.
More and more Brits that have been struggling to make ends meet have decided to turn to pawnbrokers for short term loans, industry experts say.
Perhaps, conversely, the problem would not be so bad if they had, in The States, access to as many online instant cash loan providers as we do here in the UK
Payday advance lenders say that, even though critics may decry the services they provide for low income earners struggling to keep food on the table and the utilities paid, eye watering interest rates on short term loans are misleading.
John Lamidey, the chief executive of the Consumer Finance Association explained recently that there was a lot of confusion concerning the benefits and costs of short term loans.
One instant cash loan company recently made waves when it announced it will be forming a partnership with Credit Action in order to fund financial education for students.
Using the internet to look for short term loans online can be the best way to solving your short term financial problems, experts say, as you can get yourself quick loans from the comfort of your own home in order to help you make ends meet.
Recent survey findings from one debt charity has suggested that short term loans may be to blame for debt problems in consumers, as more and more turn to instant cash loans for their needs.
Workers have given up standing in the queue at their banks when it comes time for quick loans, instead opting to take out short term loans online in order to meet their financial needs.
With the controversy surrounding the nature of non-traditional online loans, financial experts have come forward to provide Brits with the facts in regards to taking out short term loans online.