Payday lenders accused over fees

Press Association
Hand holding out a selection of UK pounds sterling currency
Hand holding out a selection of UK pounds sterling currency

%VIRTUAL-SkimlinksPromo%Payday lenders have been accused by Which? of "exploiting" borrowers who default on loans with over-the-top fees that raise the risk of them tipping into a debt spiral.

The consumer group looked at the default fees charged by 17 lenders and found that Wonga, one of Britain's most high-profile payday firms, topped the table by charging customers £30.