Moneysupermarket.com experienced a 58% increase in the number of payday loan enquiries around the May bank holiday period compared to the same period last month.
The comparison site is warning consumers to make sure a payday loan is the most suitable product for their circumstances and understand the terms and conditions before applying – otherwise they may find themselves in financial difficulty.
Tim Moss, head of loans and debt at moneysupermarket.com said: “It’s no surprise to see the demand for pay day loans rise so sharply in the current climate
