Pay day loans "bridge a much-needed gap in the credit market", according to a new report.

GreenvilleOnline.com reports that a number of citizens in South Carolina find that the financial product is a useful method of keeping finances in order.

The website states that people from the region use pay day loans as "a cash-flow tool" instead of bouncing a check or having to miss a credit card payment.

South Carolinians "are overwhelmingly happy with the product, registering very few complaints", the portal claims.

Commenting on recent speculation that the product will be taken away as an option for consumers, the site calls on law-makers not to let US citizens "suffer" by restricting access to it.

"Banks and other financial institutions seldom, if ever, offer similar short-term loans, particularly when individuals with poor credit are involved," it says.

Writing for bestsyndication.com last week, financial expert Tom Dikkin said pay day loans are useful for people who need to get funds urgently, as long as they use the credit sensibly.

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