www.iva.co.uk

2 years ago i wouldnt have thought anything of a payday loan, today 17 months into my IVA these adverts make me so angry!! Scary to think how many people are going to end up in IVA's or bankrupt due to these robbing gets preying on desperate people in desperate times!! [:(!]

i agree these adverts are like visual life sucking vampires ?-if that makes sense. theyre the bain of a lot of peoples lifes and i cant stand them

They make me cringe x

I would never have considered a payday loan regardless of how desperate I was.

I do hate the adverts though.

Taking things into perspective, it is important to remember that payday loans are here for a specific purpose - very short-term finance. If they are paid off when they are supposed to be, there is nothing wrong with them at all - the provide a similar function to a bank overdraft facility.

No-one should use pay-day loans for longer term solutions or if they know they will struggle to pay the money back once they get paid.

I do think that if you can pay them off you'd be ok but I would argue that if you get to the stage of needing them then you are already on the slippery slope towards debt hell.

Now I am in an IVA and have been forced to remove my head from the sand (was going to write where it really has been all these years, but just knew it would be edited out by someone)I have to say I agree with Jan. Although I never took out a payday loan with a company I suppose I did in a way by borrowing on my credit card with the initial thought of clesaring it all on payday which of course I never managed to do.

They are evil, second only to using credit cards for ongoing credit. At least with the card you have a interest free period to pay it back in, which if you could get one would negate the reason for having such short term loans at extortionate rates.

If you cannot get a credit card though and forced down the route of these types of loans then that really should be telling you something, please stay away from them they are not worth it.

I would never have taken out a payday loan, but I agree with Mel, they are there for a purpose, and the interest rate is stated clearly. It's not as though the interest rate is hidden, so it's down to people to decide whether they want to risk taking one out.

I do agree with that but some people don't look at the APR do they?

I still think that unless it is an emergency and you know the money to pay it back will be there in a few days, you're on the slippery slope if you have to take one out.

The APR is shocking to say the least. The adverts in my opinion should be banned especially the one with the old age puppets. That tells me they are targeting the pensioners.

I hate those ones with a passion!!!!

So do I Jan

I find them kind of ... creepy !

So do I - there is something quite unsavoury about them.