How A Small Payday Loan Can Spiral Out Of Control

Wad of cash

This is the shocking story of how a tiny payday loan can quickly snowball into a huge debt.

As Google announces it will no longer advertise payday loan firms from July, George in Dartford called Darren Adam to tell of how his first payday loan of around £100 spiralled out of control.

Talking from bitter experience, George - now 24 but still struggling financially - says people him who can't repay on time are the payday lenders' "dream".

"These companies, it’s their dream that you don’t repay the loan, as I unfortunately didn’t,” he said.

Listen to the shocking tale of how a small loan can spiral out of control. 

Iain Dale Studio Debate

Iain Dale: Why Middle East Handshake Offers Real Hope Of Peace

Darren Adam Studio Side

Darren: Rising Tuition Fees Will Scare People Off. Fact.

Nick Ferrari FA

Nick Ferrari Puts His Finger On What FA Is Getting Wrong

James O'Brien CSA

James: We Owe It To Abuse Survivors To Get Inquiry Sorted

Comments

Loading...