Christopher Swords
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'The vicious circle of payday loans'

Taking out payday loans can lead to a vicious circle of debt, a former user of the financing service has said.

Christopher Swords told BBC News that he would warn anyone not to take out a loan of even £10, after being "baffled" by the amount of interest he was charged.

Payday loan companies have been told to change their behaviour after the Office of Fair Trading found evidence of "widespread irresponsible lending".

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