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Barnsley Family In Pay Day Loan Hell

Monday December 24 2012

ONE Barnsley family has ended up taking out 16 payday loans – with monthly repayments of £2,200, it has emerged.

The family went to Barnsley Citizen's Advice Bureau in desperate need of help as they were being asked to pay back £800-a-month more than their total income.

Pat Heath, chief executive of Barnsley CAB, said: "We usually get people coming after Christmas when they are starting to count the cost of what's gone on their plastic. But we are seeing an increase now in people coming to us for help with pay-day loans."

Have you been caught out by Pay Day Loans? Share your experiences here.

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Reply Posted by Tyke on Wednesday December 26 2012 at 19:27
These companies should be banned from advertising on the TV. They sucker in vulnerable people at there lowest ebb. But I also blame the family, what did they think was going to happen? Lenders need to be responsible and borrowers need to realistic !

Reply Posted by Anon on Monday December 31 2012 at 15:06
These companies do have very high repayment rates, but you know this when you take out a loan, so do it 16 times is plain stupid.

Reply Posted by charlie on Monday December 31 2012 at 15:23
Irresponsible lendin its their own fault and company for givin it

Reply Posted by mick on Monday December 31 2012 at 15:46
Every country in the western world including America (who usually hate legislation) have laws limiting interest rates. Except Britain . I believe this is because the big conservative backers are the very money men who own these companies.

Reply Posted by Pixie on Monday December 31 2012 at 15:53
Don't judge the people who have taken out the loans, household incomes can change dramatically, which is not the fault of anyone in the household. These companies should be banned from operating, they prey on vulnerable people who suddenly find themselves needing extra money which has to be repaid with an astronomical interest rate, people then need more money to pay bills and the vicious circle begins. I used to think that the people who take out the loans are to blame, just remember anyones circumstances can change in an instant. Don't be so quick to judge.

Reply Posted by caz on Monday December 31 2012 at 15:58
well said Pixie.

Reply Posted by tt on Monday December 31 2012 at 18:44
i once used one of these sites (can't remember which one) because my wages were late and i had direct debits going out and didn't want to end up with bank charges, but it turned out that it cost me more to take out the payday loan than it would have cost to pay the bank charges. wouldn't use them again.

Reply Posted by john on Tuesday January 1 2013 at 02:10
16 payday loans. Really. Once might be learning the hard way but 16 times, how daft can you be?

Reply Posted by jules on Tuesday January 1 2013 at 17:07
isnt that there choice have done it before so what if they use them its nothing to do with any one else is it n is it ment to be £2,200

Reply Posted by mikey on Tuesday January 1 2013 at 17:11
i have also used these type of loans more than once and when you are desperate you dont look at the long term effects ,to borrow so much is probably the biggest regret of their lives

Reply Posted by king louis on Tuesday January 1 2013 at 17:17
Pay day loans get their money from the big banks so the big banks are happy to oblige

Reply Posted by Jay on Tuesday January 1 2013 at 18:10
A pay day loan is just that.... a little extra to fix your car (or anything that was an extra cost unexpectedly) To be repaid on your NEXT PAY DAY.... so you take a loan to pay it back in a months time. Not to pay a bit off at a time. Its clear how the loans work, and if you dont abuse them they are great for emergencies... They might take advantage, but people also abuse them i.e to have an xmas they cant afford!!! Plus the intrest rate is not THAT high if you pay it back when your supposed to at the end of the month. Hence the name PAY DAY LOAN! Urgh some people need to go back to school and learn how to control themselves, and learn what things mean. I bet these loans REALLY help people at unexpected and difficult times, and help people who havent abused them.

Reply Posted by Ed Radley on Tuesday January 1 2013 at 18:17
BARNSLEY CREDIT UNION, 70 market street, Barnsley. A lot cheaper for loans than pay day loans :-)

Reply Posted by guestymcguest on Tuesday January 1 2013 at 19:41
legalsed loan sharking should be banned...

Reply Posted by maggie may on Wednesday January 2 2013 at 10:08
i have been tempted on more than one occasion to use these loan companies but up to now thank god have always resisted,people really need to ask themselves do i really need to get a loan,i have a cooker with the inner glass door smashed so i dont use it i make do other ways,my microwave is on its last legs and not heating properly,at the moment i have no gas so i put an extra jumper on and get the duvet off the bed.it would be so easy for me to get a loan to replace these things but ive managed without and will continue to do so untill i can save enough money to replace them ,i know there are times when people have no choice but to take out loans including my own family,but i really do think the majority of people using these services need to stop and think wether its absolutely necessary.it is so much harder to get out of debt than to get in it.

Reply Posted by Onlooker on Wednesday January 2 2013 at 11:59
In all honesty ... Who's Business is this?

Why would THIS Be making our local news? There are people in Barnsley in worse situations, but just choose not to Broadcast it.
Why would you go to your Local online news broadcaster to tell them about your Festive Stupidity?

Yes - Its awful how much they're having to repay each month.. BUT
They obviously agreed to the terms of loan and repayment before the cash was issued to them! They knew it was coming.
So now, because they cant afford it - and the effects of their daftness actually come through - They complain to WAB as though its a sinister crime...

>>> Ya Brought it on yourselves <<<

Reply Posted by Me on Wednesday January 2 2013 at 14:07
A lot is said about loan companies lending irresponsibly but just a thought here... if you take out loans in the sure and certain knowledge that you cannot pay them back isn't that fraud? I would hazard a guess that these people have been less than honest in their loan applications, it's not in a loan companies interest to lend to people that can't pay back. 16 loans they took out, 16 times they entered into a legal agreement to pay it back.

Reply Posted by dene on Wednesday January 2 2013 at 14:16
i was brought up , save up for it, and thats the way it's been all my married life, only the car was on H P .. sorry to the people but they know what it was about, but the blame to to pay day loans for not checking, people in desperate needs will do any thing ,,,

Reply Posted by flip on Wednesday January 2 2013 at 16:15
We have been there when we have had no money, no food because all wages go on bills but one thing we will never do is take out a payday loan my partner looked into it and i have told him under no circumstance are we taking out a loan we don't do credit cards or store cards or any of that crap i was brought up to believe if you haven't got the money you go without we don't have anything fancy...but if we do need anything we save for it that's how it should be say you're washer breaks you don't have to have a spanking new one their are people that just throw stuff away because they re-decorated their kitchen and it doesn't ''go'' anymore...I really don't care how desperate someone is it's not an excuse to sign your life away to a loan company....if you having trouble paying rent speak to the council....if something you need broke go look for a second hand one their is always a solution

Reply Posted by Mad Ade Bozzay on Wednesday January 2 2013 at 16:21
1743% APR.

Yes there's a reason you are called Quick Quid. I heard Greece's problem all began after they borrowed £100 from them.

Reply Posted by michelle on Wednesday January 2 2013 at 16:26
Totally agree with comment made by onlooker. Why publicise the fact that you've been stupid not once but 16 times and then cry poverty when you have to repay what you've borrowed plus the extortionate interest which is clearly shown. What do they expect handouts for nothing? They should curb their need to spend above their means in the first place. Absolutely no sympathy for stupid people like this.

Reply Posted by maggie may on Thursday January 3 2013 at 14:14
i have to agree with flip the first thing i would do is cut up the credit card and stop living on overdrafts,if you have to have a card have a debit card at least then you can only spend what youv'e got. dont get into debt to buy new do as flip said buy second hand. never miss your rent you should always priorities your bills the most important thing is to keep a roof over your head. if your struggling and have to borrow money then how do you expect to be able to pay extra out of money your already struggling to live on

Reply Posted by Robert on Thursday January 3 2013 at 15:51
The regulatory bodies on TV should be ashamed of themselves, putting profit before the safety of vunerable people. What are the MP's doing about these "SHARKS"...

Reply Posted by Rothschild on Thursday January 3 2013 at 17:51
One thing i think most people are unaware of, is that a loan from a bank is not a loan. In order to loan something, the lender must first own what they lend. Banks do not lend you their money, and as such, it is not a loan. When you ask the bank for a grand, they don't take a grand from their savings and lend it to you for a while and charge you interest for the privilege. Also, the rate of interest you pay has nothing to do with your ability to repay it, or how much risk you present the bank in your ability to repay them because they don;t actually lend you any of their money. Bearing in mind that banks, ALL BANKS, including the bank of england are privately owned and profit making corporations, that might sound far fetched and a little strange, but look it up. It's true. Now i'm honestly not sure how these types of lenders operate as they certainly arn't subject to the same restrictions as a bank, but if ultimately these places are bank financed then it's the same thing with the same outcome. More money for the banks and less for you. God bless fractional reserve banking regulations.

Reply Posted by april on Saturday January 5 2013 at 16:13
think this is hilarious obviously got too greedy loan after loan but if you need it what can you do! only in Barnsley eh lol