The UK’s Payday Loan Lifeline: Your Financial Stopgap or Debt Trap?
For millions across the United Kingdom, a sudden expense—a broken boiler, an unexpected car repair, or a gap before payday—can trigger a financial crisis. When savings are thin and traditional banks move slowly, a specific type of short-term credit often appears as the only available solution: the payday loan. These small, high-cost loans have been…