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LATEST NEWS & EVENTS Reliance on payday loans 'could be detrimental'  Consumers have been warned about the dangers of payday loans, which could put them at risk of requiring the services of a personal insolvency lawyer. According to financial expert Jason Riddle, co-founder of Save Our Savers, although payday loans may seem like the easiest route to take, they are actually very expensive compared to other forms of borrowing. Mr Riddle urged consumers to avoid relying on credit and advised people to only consider a payday loan if they are absolutely desperate. "Putting some cash aside might be difficult, but no harder than finding the money to repay a payday loan and it will save you a considerable amount of money in the long run," he said. Mr Riddle added that ultimately, it is worth making the effort to save some money in order to cover emergencies. According to the Debt Advice Foundation, access to high street lenders has become extremely difficult for low-income households in recent times due to the recession, leading to many resorting to payday loans. Posted by Paul Stevens 
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