Research from price comparison service, uSwitch.com, has found that while Payday loans may offer quick and easy cash, they are one of the most expensive forms of loans in the UK, with some APRs of up to 9889.3%. According to uSwitch.com, a consumer taking out a payday loan of £750 could end up owing £1,687.50 if [...]

More: Payday loans deemed most expensive forms of loan

The problem with pay day loans is you get stuck in a rut by borrowing every month and it sometimes gets as bad as gambling as you get addicted to it and want more each month. I think you would be better consolidating all your debts into one monthly payment and slowly paying of your debts, through debt management unless its a one off situation.

When the preferable is not available, the available becomes preferable. Most people taking payday loans dont have options as its the last and only available option. Lenders are not willing to offer credits, bank saying no no. The interest is so high because of the risk involved to payday lenders coupled with the desperation by loan seekers. Only people who are desperate would want a loan at that rate and nothing will actually stop them. Not the APR

I Agree to those who said that payday loans are really expensive. Very high APR for very small amount really tough decision and one should always check their need and then apply for the payday loans.

Well put.