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Financial obligation issues with high price credit services and products in the increase as cash advance problems fall

Financial obligation issues with high price credit services and products in the increase as cash advance problems fall

Increasing numbers of people are suffering debts for guarantor loans and lease to possess credit services and products, people information reveals today.

The charity claims there’s been a change when you look at the high expense credit market due to the fact amount of people looking for assistance for difficulties with these sub-prime items has increased by 16% over the past 12 months (from 1,962 between April and June 2015 to 2,272 in identical duration in 2010), as the amount of people with pay day loan financial obligation dilemmas has reduced.

During the last year people information assisted 7,500 individuals with lease to possess financial obligation issues, 1,100 with guarantor financial obligation issues and 460 with logbook loan dilemmas.