Concerns over payday loans

Payday lenders, who give short-term loans at high interest rates, are being discussed by Newcastle Citizens Advice Bureau.

Full Report: Concerns over payday loans

The adverts are everywhere, some endorsed by celebrities and one soon to be on the shirts of Newcastle United players.

So-called payday loan companies offer small amounts of money at high interest rates over a short term.

The companies say they are a useful service, but charities say that they are worried about the increase in people from the North East getting into difficulties.

You can watch the full report from Lucy Taylor below.

"We know that people need to borrow money"

Payday lenders, who give short-term loans at high interest rates, are being discussed by Newcastle Citizens Advice Bureau.

One of the companies, wonga.com, begins its sponsorship of Newcastle United next season.

The company says that the majority of its customers pay the money back on time and don't get into difficulties.

However, the MP Stella Creasy - who has campaigned against these sort of loans - told the meeting she is worried.

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