Payday loans lead to massive debt for one mother’s son

One woman has recently spoken out on the desperate and harrowing experience of her son after falling into massive debt, instant cash loan experts recently reported.

The concerned mother, whose name was not made known to the public, related how her son, who had difficulties managing money even though he had a job, relied on short term loans from payday lenders in an attempt to bail himself out from an expensive bank overdraft. However, the young man, who is in his twenties, found himself borrowing from five separate payday advance firms, amassing a debt in excess of £5,000 as he struggled to make ends meet, growing increasingly disturbed and being unable to find a way out of the crushing downward spiral, his mother recounted.

The woman became alarmed when she saw her son during a visit in the midst of this financial emergency, alerting her to the economic crisis that the young man was experiencing.  His mother grew terribly concerned for her son’s mental wellbeing, as she described him as having a terribly disturbed look about him, and it was only until the young man fell into the depths of despair under the crushing weight of his debt that he wrote a harrowing letter to her that made the woman immediately suspect it was a suicide note.

Desperate for the safety of her son, the mother intervened, helping the young man to find a way out by securing him an affordable loan at a manageable interest rate in order to allow him to bring himself back up out of debt safely.  Now, the woman has spoken out against the tactics of some payday lenders that are targeting vulnerable Brits such as her son, leaving them in desperation.

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