Which? calling for credit crackdown

Consumer campaigners are calling for a crackdown to clean up the "irresponsible" credit industry after finding that a quarter of people who take out expensive payday loans are using them to plug other debts.

Which? said that "desperate" borrowers who find themselves locked out of mainstream credit are drowning in a vicious cycle of high-cost loans as they try to meet their daily living costs.%VIRTUAL-SkimlinksPromo%