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Earning money last before the next pay check is a classic problem, nevertheless now there are lots of new loan providers offering the solution of the pay day loan.

How many people taking one out has quadrupled since 1996 in accordance with the watchdog customer Focus.

That is despite some organizations asking interest levels of greater than 2,500% per year.

The organization has become calling from the industry to bring in more safeguards to safeguard vulnerable borrowers.