The Downward Spiral of Pay Day Loans – Part 2.

After posting my blog about PDL, I have had an amazing response. I’ve had good comments, bad comments and fairly insulting comments but one comment stood out and really pissed me off.

“The whole thing sounds incredibly dumb. Sadly though, there are thousands like you. It seems the younger generation weren’t taught how to save, or the value of money. Or ever told the word NO. You nailed it yourself, right at the end. Greed. It sucks to have to go without something you want. Unless your mature of course, in which case it simply becomes a goal to aim for.
gimmie gimmie gimmie want want want now now now.
NO
sorted”

Now, if you know me, you’d know I can take an insult and I like a good old debate, but this comment touched a nerve. This person is basically slating the way I’ve been brought up. The reason I first took out a Pay Day Loan is because I needed to get a new tyre for my first car. It’s rude to ask for money, I wasn’t going to ask my parents for some money, as I know their money situation wasn’t brilliant at the time. It wouldn’t have been fair on them. I’ve been brought up to stand on my own two feet. This tyre was a must, otherwise I wouldn’t have been able to go to work, and make an honest living unlike the thousand of people out their scrounging off the government because they cannot be bothered to get off their arse and would rather stay in and watch Jeremy Kyle.
I was taught the value of money, but who hasn’t decided to spend some money on themselves because they deserved it? Working where I work isn’t easy, doing 12 and a half hour shifts isn’t fun. So excuse me if i decided to spend MY money on a few nights out after a shit days work. Who the hell are you to tell me that I can’t? I’m not going to lie, I’m rubbish at saving money, but I’ve learnt my lesson and I now have a savings account set up, ready for my next pay day.
Secondly, I have been told the word no, too many times. Rejection isn’t nice, but it’s way of the world. Everyone will have rejection in their life at some point. I can take the word no, but I can also find ways around this word. It’s called determination. It drives me, but it’s also nearly destroyed me.
There’s a huge difference between want and need. I didn’t want to spend money on a new tyre, but I needed it.
Yes, I have to admit, I was being greedy but taking out more than I needed a couple of times, but these PDLs are a vicious circle. I have had lots of comments on Twitter from people telling me that they cannot get out of the circle, and there has been a couple of people who have told me that they cannot see any other way out. Sometimes, this is the only option for people as they do not have any close family or anyone that they can borrow money off, whereas I was too proud to ask people. These PDL companies pray on the vulnerable. I would love to see the reaction of this comment from the “thousands of people like me” What I want to know, is whoever posted this comment, are you in debt? If you told me that you haven’t been in debt, I wouldn’t believe you. Since posting this blog on my facebook, a lot of my friends have messaged me telling me that I am not on my own, and that they have been in debt too.

“Citizens Advice Bureaux in England and Wales dealt with 8,652 new debt problems every working day during the year ending September 2011.”

(I won’t bore you with more statistics, but if you’re interested http://www.creditaction.org.uk/assets/PDF/statistics/2012/february-2012.pdf)

Anyway, enough about that.
I have been incredibly lucky. After posting my blog, my mum read it on Facebook, and called me straight away. I got the bollocking I was expecting, but then she told me she was going to pay off all my debt for me. I was astonished. My mum said to me “I’m more upset with the fact that you didn’t come to me sooner. I’ve been in a similar situation and I know exactly how you feel” I felt so overwhelmed. She paid off everything. Before you think that I’m debt free, I’m not. I now have set up an agreement with my mum that I will pay her back a certain amount every month until I have paid back everything I owe her.

If you know me, you’d know I’m not the type of person to talk about my problems or my feelings, but writing this blog has taught me a valuable lesson. If you don’t talk about your problems, they won’t get solved. If you’re reading this and you’re in debt, please, go talk to someone – anyone. Don’t bottle it up and worry about it more, because it’ll only make you feel worse. Take me for example. I have had so much support from friends and family. If you don’t have the support network, go to the Citizens Advise Bureau, They are so good with this type of thing. (http://www.adviceguide.org.uk)
Put your ego aside and deal with it head on.

Whatever you decide to do, don’t face this alone.

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14 comments
  1. Matt said:

    Young lady, your youthful age hides a fantastic mind. Continue using it for great things!

      • Matt said:

        Your tale reminds me of something that really stuck with me – the Stanford Marshmallow experiment. Long story short, it shows that people who can forego short term advantages regularly do better in the long run.

        In effect, be wise with money during youth == greater money as life goes on 😀

      • I’ll have to read up about that, sounds interesting!

  2. Mary said:

    So you think you’ve had it hard because you owed a few quid to a pay day loan company and had a bit of trouble paying it back. You haven’t got any idea how hard some people’s lives are, living hand to mouth trying to keep a roof over their heads, working all hours and still never having any money for food let alone a tyre for their car. Get a grip you spoilt little brat. Posting blogs on Facebook, surely if your mum is in your friends list then she’s bound to read it and bail you out. Why else would you post it!

    • Firstly, it’s not just a couple of quid. Yes, I understand that there are people worse off than me, and i thank my lucky stars that I have a roof over my head. I am not a spoilt little brat, and the fact that you have the result to name calling suggests to me that you are ignorant. I work all hours thank you, I work an average of 45-50 hours a week, which is a lot longer than most people seeing as the average working week is 37.5 hours.
      I did not write this post so that anyone would bail me out. I had a payment plan sorted with both companies and I was prepared to pay it back monthly. I wrote this blog to show that it doesn’t matter what situation you’re in or how old you are, it’s very easy to fall into the trap. I wrote this blog to stop other people making the same mistake as me. Have you ever heard of the saying “If you don’t have anything nice to say, don’t say anything at all” That saying applies to you.

    • Robbie said:

      Mary…you’re actually quite an insensitive human being…perhaps you should take you’re negativity else where! She is trying to make people see the worse in getting out a loan so they don’t fall into a worse situation….as for spoilt! You’re wrong she’s far from it!!! She has been given a change to sort her problems….so take you’re negative comment and FUCK OFF!!

      • Mary said:

        Congratulations your a cunt! Quite an apt description of her and you I think,

    • Christine said:

      WOW! Mary, don’t act all high and mighty like that just because maybe your debt is bigger than Ami’s. Some people are in worse situations than others, yes…trust me I know that, I currently work long hours, six days a week, I get decent money (luckily, its a new and better job that I was lucky to get into)….But that is where it ends, my other half is struggling to find work….we have bills coming out of our ears…..we are lucky we are staying afloat with how much debt we have. But that does not give me the right to say that Ami is basically complaining about have a smaller debt, at the age she was, it was scary…my very first debt like that, that I couldn’t pay, I panicked….

      As for putting it on Facebook, it was more because she wanted to let others know, to get it off her chest. Its a brave thing to do. Its hard to reach out to people about debt.

      Any sort of debt is scary and hard, whether its a couple of grand or to the extent of others struggling to keep the roof over there head…we are all struggling…it does not give you the right to be downright disrespectful to another human being.

      So please, get off your high horse and learn how to be nice!

    • Christine said:

      wtf? Does it really matter where it is posted? I didn’t even see it on this page, it was shared on a different page when I found it. Just because she posts it to her ‘like’ page that she created, I don’t think really matters. So you admit that debt is scary at any age…then why make a deal about it in your first comment, basically telling her to get over it as it was just ‘a few quid’ and that she is a spoilt brat? Although I don’t believe she did it for her mum to read, even if she did, is that so bad? Sometimes its hard to say these things face to face, so posting it as a blog is probably easier. Its not exactly like she knew her mum would turn around and say, hey, I will bail you out, and she is going to pay her back as well. So to be quite honest I don’t see what your problem is and why you had to put such a negative first comment or call people names.

  3. beth said:

    first world problems!

  4. When I left university I had £5000 on credit cards and a £3000 overdraft. The reason…I was stupid. I was on my own, I wanted to buy dvds and expensive clothes, I took out ridiculous cash advances, I spent way out of my means. Im now 28 and still paying off this debt (£1500 left to go). I look back and I am ashamed at the position I got myself into – however because of this I am now excellent with money – I pay all my bills, manage to save a little each month and I don’t buy things that I cant afford. It was the most expensive lesson of my life – but a lesson that Im most proud of 🙂

  5. Darren said:

    I can sympathise with you on this. I used payday loans. Borrowing from one to the other. All got a bit out of hand. However I somehow got myself out of it. I lived on hardly anything for a month. But all is sorted and I’ll never use a loan again. I have a credit card but only petrol goes on that and it is payed off every month in full. This is to improve my credit rating.

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