Payday loans fleece middle earners

Sarah Coles

There's something about payday loans that makes people feel slightly queasy. It's the killer combination of seeming to offer an easy and immediate solution to your problems, and the unbelievably massive interest rate lurking in the small print.

It would seem therefore that these loans are for people on low incomes who have exhausted all their options. However, new figures have revealed that these aren't the only people falling victim.