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joxford

Listed below are comments made by joxford between Friday, 26th September 2008 and Friday, 26th September 2008.

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Payday loans: 'Never a borrower or a lender be'? 7:16pm on 26 Sep 2008 Leigh, oxford

(continued).

Just read the previous post from the debt advisor.

Its not greed, it purely boils down to when you have one, you get another to pay that off....

Its a snowball effect and hard to stop, and before you know it, your in trouble!
Payday loans: 'Never a borrower or a lender be'? 7:14pm on 26 Sep 2008 I fell into this trap big time

I earn just under £1000 a month, yet I had managed to obtain almost £2500 worth of payday loans.

I found myself just "extending/rolling" the loan over till the next month and just paying the interest.

I then had to resort to contacting a debt management company to sort it all out, as I was worrying that one month a payday company may say "no" to extending my loan.

I would then be unable to pay my bills and rent.

These companies need regulating. I know its my own fault for borrowing more than I can really afford, but the scary thing is that it happenend. I have learnt my lesson!

Leigh, Oxford

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