Some think Payday loans are ‘black sheep’ in the UK credit market

Most of the time payday loans are associated with high interest, bad debt and aggressive collection methods

Due to the recent economic circumstances, the unavailability of credit options for people with bad credit has created the need of suitable alternative consumer credit options such as short term loans

A constant need for emergency cash loans in the United Kingdom has made emergency payday loans to gain popularity amongst borrowers

So… are Payday Loans the ACTUAL problem? Let’s shed some light at what the numbers suggest…

As shown on the pie chart below, Payday Loans account for only 12.1% of the total unsecured 

lending in the United Kingdom

Consumer debt research shows that 15% of debt accrued is from payday loans, while the remaining 85% is from credit card debts

Payday loan debt

Credit card debt

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

15%

85%

The following statistics show the use of consumer lending 

options in the United Kingdom

Credit Card

Overdraft

Home Credit

Store Cards

Bank Loans

Payday Loans

0% 5% 10% 15% 20% 25% 30% 35% 40% 45%

41%

37%

22%

17%

26%

6%

Despite severe criticisms by financial experts, it is interesting to note that consumers claim that emergency cash loans such as Payday Loans alleviates rather than escalating

their financial hardships

• 54% of users say their loans  make it easier to pay bills on time

• 85% of payday customers say they had no difficulty repaying their loan

• 56% say that using payday  loans has prevented a financial difficulty becoming  a crisis

90% of payday customers are satisfied with the clarity of the terms & conditions for their loan 

74% of payday customers are satisfied with the value

93% of payday customers are satisfied with the overall experience

Keys to Success with Payday Loan• Borrow only the amount you need

• Borrow only for the exact duration• Repay on the agreed time

Daily Loan is a responsible payday loan provider in UK.

• Choose your loan amount up to £1000• Flexible repayment choices available

• Instant Application Process• Available daily 24/7 online

Visit www.DailyLoan.co.uk today!