Payday Loans Misery

At this time of year, many people feel the squeeze, and more of us than ever look to take out loans.

While there may be new regulations on the amount that can be borrowed from payday lenders, there are still no restrictions about the way people’s details can be passed from company to company, and no rules on how much those companies can charge in fees.



Tonight we’ll meet two X-Ray viewers who ended up dealing with loan brokers, when they were searching for legitimate loans online. They ended getting charged hefty fees – and not even getting the loans. X-Ray investigates how these companies are targeting people in desperate financial situations, often leaving them worse off than before.



On the programme I’ll be getting advice from a debt advisor, who will explain how to avoid getting caught out by these companies, and if you are in financial difficulties, what you can do to help find a way forward – without getting caught up with brokers who just want you to part with more of your cash.