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I never said it was the 'fault of the lender' ! Merely highlighting the misery they can cause and a trap that is there. People may take the view that nothing needs to change with payday loans. I take a different view that a reform of them is required.

Yes 97% may pay back, but how many are then so skint they have to then get a new loan to cover the month as they can't pay anything else ???

A payday loan is ok in isolation. The problem is when people take out one to pay back another or find themselves with multiple loans which take up all their income, meaning more loans to pay other bills. They need to be centrally registered and a maximum number enforced as to how many can be...