Financial advice charity StepChange says the number of people asking for advice in dealing with payday loans increased 82 per cent last year.

The charity said almost 67,000 people called its lines asking for advice in 2013. It is calling on the Financial Conduct Authority (FCA) to intervene.

It said the FCA should move to create substantial reform within the industry from April, when the FCA starts to regulate personal lending.

"We hope the FCA's proposals will address some of the areas of consumer detriment,” said StepChange chief executive Mike O’Connor.

“But on issues such as affordability checking, rollover and repeat borrowing, there is an urgent need for even more radical reform."