Payday Loan Debt FAQs

Payday loans are an extremely expensive and high risk method of borrowing. They are usualy reserved for people who already have issues with their finances and/or credit rating.

Payday loans are a high risk, high interest way of borrowing and if you are using this service regularly then that could indicate that your control over your finances is slipping.

Taking out a payday loan can lead to a cycle of ever increasing payments, where you borrow an amount you need, then you borrow a higher amount to cover the original loan. This can escalate quickly.

If you are having trouble with payday loans, then it’s quite possible you have other debts as well.