A cash advance loans were used to pay lease or loans last year

Almost seven thousand individuals are using payday loan and unwanted bank account borrowing to advance their day to day living costs.

California, CA (prHWY.com) January 4, 2012 - The housing charitable organization has said that nearly one thousand high attention cash advance financial lending products were taken out over the last year to pay the lease or house loan.

And almost seven thousand individuals are using financial lending products, payday loan and unwanted bank account borrowing to advance their day to day living costs.

The charitable organization reveals "the control of debt that individuals are decreasing into to be able to keep a top over their head".

The result says Housing, is the risk of being homeless for many individuals who are finding it very difficult to keep speed with their household charges.

Shelter's Primary Management, Campbell Robb, said "These surprising results show the level to which an incredible number of people across the country are really having difficulties to keep their house. Flipping to short-term cash advance financial lending products to help pay for the cost of houses is totally not sustainable.

It can quickly cause to charges final out of control and can cause to foreclosure and eventually being homeless. Every two minutes someone in the United Kingdom faces the major problem of dropping their house. We desire every single one of these individuals now depending on credit score to help pay their lease or instant cash loans to quickly seek advice."

As Martin Lewis of U.S. points out, many of these cash advance financial lending products charge huge attention in the location of 4,000%! So the loan is expensive if you cannot pay it all off. The attention will throw up at an escalating rate until the unique amount credited is stunted by the borrower.

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Tag Words: payday loan, instant cash loans

Categories: Finance

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