Payday Loans

The Fact about Payday Loans :Younger, British and Broke BBC Complete documentary 2013





With a million men and women established to use payday financial loans to shell out for Christmas this year, Miquita Oliver goes undercover to uncover out the fact about Britain’s most controversial sort of borrowing and meets men and women whose financial loans have spiralled out of manage, often with devastating effects. But for each individual human being she talks to who is desperate for funds to endure, there are other people just after funds for new apparel and events. So how substantially do men and women definitely understand about how these financial loans function, and what they are finding into?

Miquita, who has had her individual economic problems, opens up her individual payday financial loans shop rigged with key cameras and hears startling tales of how these financial loans both of those exploit and are exploited by the men and women hurrying to acquire them out. With the industry underneath scrutiny like under no circumstances in advance of, she exams irrespective of whether creditors have cleaned up their act or irrespective of whether some are even now lending irresponsibly, making massive challenges for the very men and women they are supposed to aid.

36 comments

  1. I can sympathise with some of the people who've got to borrow money like this for food or heat, but that dumb student girl borrowing at these rates to go out clubbing and that scouse tit so he can get a premium seat and a large popcorn at the cinema really do have it coming.

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  2. I love that there's a payday loan ad next to it.

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  3. If you get a payday loan, you're short of money, so then you'll spend through that £100 or whatever, then how are you supposed to pay it back because you have no money? I just don't understand people with there stupidity.

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  4. This is not just a British problem. It's a worldwide problem. People confuse "needs" with "wants". If you don't have the money to buy something, then don't buy it. The ONLY exception would be a house. That you usually need to get a mortgage for – unless you rent an apartment. But fortunately houses APPRECIATE, when just about everything else DEPRECIATES. So, you would gain money by buying a house instead of just losing money.

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  5. PART 2 ..never lie.on your details..thats fraud just be honest they love to give you money../as long as you have more than 400 a month .off you go..spend spend spend ///

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  6. i am not proud of this but i filled in the forms on line for a capital one card and a vanquish card .bin on bennefitts 8 years .as long as you get over 400 a month u get accepted.got both cards accepted .spent it ..didnt pay them back ..its gone now irratreavable debt no further action to be taken ..it went to lowel finance its 100% its gone now../..and i did provident 500 .the first time the women turned up.i said im not paying it she drove off … ..loads of letters thats it ..good bye.//.and banks im into 20 grand ,12 years ago …your only black listed .about 4 years ./..ive never gone bankrupt.that will srcew u up never do that ever /.being in debt is not a criminal offence it will never go to court …..

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  7. Some of these payday loan places offer installment loans too I wonder if those in this documentary have any of these? Payday loans are for emergencies like telephone, utilities or an emergency room bill but for drugs and clothes nope. Never borrow more than you can afford to borrow. Then after just manage your money and budget and to avoid using these places period.

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  8. When people take these loans out they are aware of the 1000- 6000% APR, they walk along with victim stamped on their foreheads, self inflicted stupidity, I have no sympathy, if someone tells you not to walk in front of a bus, then you do, it is your own fault if you get run over, don't do it then start crying like a baby, in the UK people who do stupid things never take responsibility, it is always every else's fault but their own.

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  9. Makita Oliver is still hot.I would fill her full of cum

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  10. don't make a payment to check city with a debit card they will steal from you're checking acct it happened to me today

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  11. so girls owe parents 1000 pounds that not a lot of money I can't see why she needed 2 jobs I I make a very small amout of money and I could pay off a 1000 in a few months with just not buying supurlus carp

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  12. wait they can repress stuff in someone's parents home for the child's debt I don't see how that's legal

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  13. wow I have met loan sharks wow charge less intrest but if u don't pay them they will fuck you up with pay day loans they just keep adding intrest

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  14. That boy should be a model with those big beautiful blue eyes;)

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  15. The reason the interest rates on payday loans are so high is because of delinquent borrowers like Josh. He admits to committing credit fraud. The lenders are trying to make a profit and the only way to do so is to charge high interest.
    If you are creditworthy you can obtain much cheaper forms of credit in the form of credit cards or bank loans.
    But, in most circumstances, buying consumer goods on credit is folly. If you can't buy it in cash (excluding housing and cars) don't buy it at all.

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  16. What I do NOT understand is why if you owe nothing with money in the Bank your Credit Core is just as bad as being in Debt !

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  17. apr here in Holland is maximized by law at around 14% at the moment. Law should maximize it as well in UK, imo.

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  18. Ironic they use someone who has been registered as bankrupt to preach about "managing money sensibly"… you'd have been better off getting martin lewis to do the fucking show!

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  19. hahaha. id ont owe antbody fuck all. but i would borrow from these cunts and fuck off far away and fuck them let it add up forever

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  20. pay your bills!!!! don't live beyond your means!!! don't borrow money,don't lend money..

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  21. People makes jokes about america but plenty of examples of how one group of people aren't that different from the other

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  22. why not stick to the rules than?
    or not take them… :/

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  23. these must be the dumbest people in the country

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  24. I just need a loan for some coke!

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  25. these people have no clue how to budget I was born in the 1970s and people then had no choice they had to save for things or put it on HP I am comfortable off and never had no debt or been overdraw at the bank a lesson don't buy what you can't afford if you want it save up

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  26. stay clear from these loans the interest is shocking

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  27. They should get a piggy bank and save some dough.

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  28. @ 27:18 "You have to do anything to get money these days." Get a job? Perhaps two?

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  29. Wow, I didn't realize how fucking similar the U.K. is to the U.S.A It's just a fucking hustler!

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  30. WTF
    Why are people such short-term thinkers???!!!

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  31. Stay in school kids 👌🏽

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  32. Well I just wouldn't go for a loan for clothes or a night out..
    I agree with the others.
    If the roof over my head was been threatened maybe..I would always go to family 1st then my bank .

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  33. I feel terrible for some of these people who are genuinely short of money and think loans will help them. I don't understand why the guy at 16:00 kept taking loans out, I get that he was "addicted" but to take loans out because you're stressed about paying back loans? What? Live within your means and you'll do well long term.

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  34. poor and stupid 🙂 hahaha fuck them…

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  35. proper knobhead. He's borrowed so much and blew it yeah ?? No driver licence no course or anything like that ??

    I live in bolton and I am telling you that job is everywhere

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  36. another bad thing about payday loans is….it does not even help your credit

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