Personal Finance and Investing

Before Christmas, there were reports that many UK residents were using payday loans to fund holiday spending. A post-holiday study by lender Speedeloans revealed that three times more people used these no credit check loans during the 2011 holiday period than during the 2010 season.

Despite what seems like an alarming increase in the number of loans, this lender reported that its holiday customers had one-third less debt than during 2010.

Shelter Scotland commissioned YouGov to conduct a survey in early January. The results showed that 936,000 UK citizens had used a payday loan during the previous 12 months.

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It is no secret that there is an explosion of debt collection related to student loans and it is fairly common knowledge that student loan collectors have some greater powers than a typical collector has on a credit card debt or medical debt.

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