Payday firms say they make careful affordability checks. These are supposed to ensure the companies don't lend more than a borrowers can repay.
But today they admitted to a worrying blind spot. It's possible for someone to take out a series of short term loans all around the same time, without the payday firms realising the individual is becoming over-stretched.
The spokesman for Mr lender, Adam Freeman, admitted it could be 60 days before they get the information. Wonga's Henry Raine agreed that better data sharing is needed to plug the information gap.
More top news
The traffic on British roads hit its highest ever level last year, with congestion continuing to rise, official figures show.
A number of flood alerts are in place for the tidal stretch of the River Thames after it burst its banks yesterday.
The NHS could save over £8 million a year on dental treatment if all 12-year-olds chewed sugar free gum after meals, a study claims.