Get all your news in one place.
100's of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Margaret Jackson

'This Cycle Is Destroying My Mental Health' — Payday Loan Sinks Borrower Into 'Deep Financial Trouble'

No,Money,Left.,Unhappy,Sad,Girl,Holding,Last,Cash,Money

A recent Reddit post detailing a devastating financial situation sheds light on the crushing reality of the payday loan cycle. 

A Reddit user who filed a consumer proposal to reset their finances revealed they have since accrued more than 24 high-interest payday-style loans with bi-weekly payments that now total more than double their bi-weekly income. 

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.