Tag Archives: payday loan debt

“It completely destroyed my life”: James’ story

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Lots of people use credit in their day-to-day lives, and because they’re keeping up with the payments, trouble never seems like it’s round the corner. But that’s the thing about credit – it’s not a problem, until one day it is.

James* from Bristol had always stayed on top of his debts. He had a credit card with a small credit limit, and a car loan, which he regularly made payments towards. But things changed quickly when James developed a back problem which meant he was signed off work for months at a time. When his period of sick pay ran out, he started to receive Statutory Sick Pay.

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“I was running out of money, so was relying on credit cards”: Rosie’s story

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With 10% of our clients stating separation or divorce as the reason for getting into debt, it’s the fifth most common cause of financial problems that we see.

This is the situation Rosie* from Leicestershire found herself in when she separated from her partner three years ago.

Already struggling to meet payments to credit cards, she had to rent a property for herself and her daughter to live in. Rosie found it difficult to pay the letting agent’s fees and furnish the home, and soon found her financial situation spiralling further out of control.

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We ask Facebook… should celebrities endorse payday loans?

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payday loan debt

Kerry Katona payday loan advert banned

An advert promoting payday loans for “fast people with fast lives”, featuring famous bankrupt Kerry Katona, has recently been banned by the Advertising Standards Authority for being irresponsible. While a recut version of the advert continues to air, it got us thinking about whether celebrities should endorse payday loans.

We asked the MoneyAware Facebook community for their opinions and it sparked quite a debate. There were way too many comments to include in one blogpost but here’s some of the best… Continue reading »

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