Updated 3 2019 december
A lot of us know about the risks of pay day loans, but Danny Cheetham’s tale would go to show precisely how quickly things can spiral out of hand.
We have all heard of advertisements. Everybody knows the payday that is major organizations. All of us are mindful that the loans include four-digit interest levels. But it is maybe not that you can fully understand the dangers that they pose until you hear the story, warts and all, of someone with payday loan debt.
Danny Cheetham first took away an online payday loan as he 19 years old, their studies at university. Slightly below 5 years, and lots of loans that are payday later on, Danny discovered himself in Â£26,000 of financial obligation.
Him back in 2018, Danny was 29 and, fortunately, on the road to becoming debt-free when we got in touch with. We talked to him exactly how payday loans to his relationship became therefore problematic, and exactly how he’d been able to turn his life around.