How to avoid the payday loan trap.
Written by Payplan Ryan on 19 February 2013

- Work out all of your incomings and outgoings. Identify any areas in your budget where you can cut back – whether that is cancelling gym memberships, switching supermarkets or changing insurances to a cheaper deal.
- If you are struggling to make this month’s mortgage payment then contact your mortgage lender to see if it would be possible for you to have a mortgage break. If you are living in rented accommodation, then you could still speak to your landlord to see if you can come to an arrangement.
- If you have outstanding debts that are becoming difficult to manage then you can contact Payplan or visit your local Citizens Advice Bureau to get assistance with re-paying these debts at a rate that is affordable to you.
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