Study claims thousands of mainly lower-paid workers have relied on loans charging up to 1,333% interest to survive
Paula Land found herself in a spiral of debt she could not get out of. After lending an acquaintance money that was not paid back in 2016, the NHS nurse was forced to go to payday lenders so she could meet her bills.
But in order to repay the lenders, her salary was regularly drained, because she found herself paying back £900 for every £500 borrowed. By 2019, she was £20,000 in debt to a series of companies, and finally admitted to her family what was happening.
