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MPs quiz payday loan firms

Firms including Wonga are being questioned by MPs over the controversial issue of payday loans. Wonga's chief operating officer told ITV News the firm is an ethical company and described critics as "prejudiced".

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Payday loans: Your views

Lots of you have been getting in touch about your experience of payday loan companies. Here's what some of you had to say:

Why borrow in the first place, if you have to pay it back with in a matter of time? Why the hell don't you just save up in the first place - or just go with out!

– Pam Swain, Facebook

Desperate times = desperate measures, some people are scared and makes them vulnerable.

– Cherie Fay, Facebook

Seriously, don't blame the company. You should know what your signing up to! If you can't afford to pay it back, why take out the loan in the first place.

– Alan Arnold, Facebook

You can have your say on our Facebook page. Don't forget to tell us where you're from when you comment.

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