After being largely unregulated for such a long time the tightening of ‘Pay-day’ loan operations has come of no surprise and relief to UK the majority of the UK public.
However there are some people who borrowing on such short-term arrangements has become habitual. The BBC article comments that the Pay-day loan firms made most of their money from individuals that could nearly afford them. Some have been fortunate to have had their accounts written-off, but many will still be stuck in this cycle of borrowing and they may resort to non-high street sources as the Pay-day firm numbers and operating capacity dwindles.
