iPlayer Radio What's New?
Image for Easy Online Credit

Listen now 30 mins

Listen in pop-out player

Easy Online Credit

30 minutes
First broadcast:
Thursday 10 February 2011

Consumer credit is growing ever tighter. Prices are rising, wages are being frozen, jobs being lost. Times are tough and increasingly people who are finding themselves short of cash are heading to the internet to secure quick and easy but very, very expensive short term loans. Cyberspace has proved the perfect breeding ground for smart young loan entrepreneurs who are capitalizing on lax regulation and consumer need to build a multimillion-pound industry. And with interest rates running as high as nearly 3000% APR, a new generation of online borrowers, many from the middle class, are slipping ever deeper into debt. Phil Kemp investigates the growing market for high-cost lending amid growing calls for the industry to face tougher regulation.


Featured in...

The Best of The Report

The Best of The Report

Explore the best investigations from The Report team

Free download

  1. Image for The Report

    The Report

    Uncovering the real stories behind the news. Simon Cox and fellow reporters delve beneath the…

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Added. Check out your playlist Dismiss