The report from the Centre for Social Justice (CSJ) showed that around 3.9m British families do not have enough savings to cover their rent or mortgage for more than a month.
As CSJ Director Christian Guy said:
Some of the poorest people in Britain are cut off from mainstream banking and have no choice now but to turn to loan sharks and high-cost lenders.
Worse than loan sharks are online payday scammers. They take advantage of the financial situation of people. They ask for a fee promising to release the loan afterwards, but in the end, you get to pay a fee for nothing.
