Payday lenders such as weight To Pocket and Flex Credit are getting into the medium-term loan market with 12-month pay day loans.
Despite stress to completely clean the industry up, payday loan providers providing short-term high interest loans are expanding in to the medium-term loan market by providing 12-month loans at sky-high rates.
A Google that is quick search a raft of organizations providing loans spanning a 12 months at 278per cent APR.