Don't be tempted by 'payday loans'

Wednesday, 2 January 2013 07:13

Devon Trading Standards are warning that this is a time of year when it's particularly easy to fall victim to so-called 'payday loan' companies.

Many people panic after overspending at Christmas.. and turn to what looks like a quick and easy source of cash.

But these companies often charge high interest if the loan isn't repaid immediately - making the financial situation even worse.