more than a quarter of young adults, aged between 18 and 24, claimed they could foresee the need to take out a short term loan within the next six months.
(PRWEB UK) 20 November 2012
The data compiled by ComRes, the polling and research consultancy, discovered that more than a quarter of young adults, aged between 18 and 24, claimed they could foresee the need to take out a short term loan within the next six months. The published findings demonstrate a 50% increase from this time last year, rising from 3.5million to 5 million individuals.
R3 council member, Louise Brittain explained “If used in the right way a payday loan does have a place. However they are increasingly being taken on as a debt solution.”
As financial specialists with great experience in their sector, the team at Dosh Express were quick to respond to this latest news. A representative shares their thoughts on the subject.
“It is no surprise that during such turbulent economic times people are concerned over how to manage their bills. In the correct circumstances, payday loans can offer welcome financial relief, and a lower risk alternative to overdrafts and credit cards. However payday loans should only ever be used for emergencies.
“For those struggling to meet monthly payments it would be more advisable to readdress your budgeting strategy, seeking help from professionals if necessary. We’re dedicated to offering our readers regular guides and advice on money-saving tips.”
Dosh Express is the Honest Lender, helping you get to payday. Based in Derby, in the Midlands, the company’s mission is to provide a great lending service to thousands of our happy customers and be a great place of employment for our staff. Please visit doshexpress.com to apply for a loan, and if you are approved cash is usually deposited in your account within minutes, subject to status. Dosh Express, the trading name of Dosh Express Limited, is a consumer lender offering short-term payday loans, is a member of the Consumer Credit Trade Association (CCTA), and is licenced and regulated by the Office of Fair Trading.