Money & Business
Have we got Wonga wrong? A defence of payday loans
...accounts and with poor, “sub-prime” credit histories. This is not the case in the UK. The IRN research also shows that 33% of payday loan customers have a household income exceeding the national average – 6% of users at more than £50,000 per annum. The truth is that payday loans are a money-saving mechanism for some young professionals. For example, a £100 payday...