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The way I escaped a vicious pay day loan period that left me personally repaying significantly more than my month-to-month lease

Siobhan Taylor’s tale is a familiar one out of contemporary time Britain. After splitting through the paternalfather of her two boys […]

Siobhan Taylor’s tale is a familiar one in contemporary Britain day.

After splitting through the dad of her two guys in 2013, the mum that is working herself in serious straits. With nowhere else to make, she ended up being obligated to just take away a quick payday loan to pay for the lease and basic residing costs.

At very first the loans were tiny – £50 right here and here to tide her over. But with excessive interest levels frequently surpassing 1000 % yearly, she quickly encountered crippling repayments at the termination of every month; forcing her further in debt with numerous loan providers.