December 2014 saw some exceptionally bad publicity for payday loans in Wales

The population of Wales was shocked this past December when a young man in Swansea committed suicide. Courtney Mitchell Lewis, otherwise known as Mitch to his friends, allegedly killed himself because of payday loans that he had taken out and could not repay. Mr. Lewis had borrowed 100 pounds earlier in the year and had rolled the debt over so that in the space of 3 months, he ended up owing a total of 800 pounds. Evidently he could not see any way out of the trouble he had found himself in than to end his life. The young man wrote on his Facebook page shortly before he ingested a massive overdose of slimming pills,

“I don’t want to die, I think it is too late.”

This came as a great blow to the community and, needless to say, much bad publicity for payday loan companies in Wales.

Bogus company brings bad publicity for payday loan companies in Wales

It is possible that the poor Mr. Lewis committed suicide in vain as the company that he took out the loan from, when under investigation, proved to be operating illegally. Mr. Lewis’ loan of 100 pounds increased by 8 times within the short period of 3 months. The company that was indicated for the payday loan was not named but, unfortunately, once again, spread bad publicity for payday loan companies in Wales, and the whole of UK for that matter.

Mr. Lewis originally hailed from Aberdare, South Wales and worked tending bar in Swansea where he was studying as a physics undergraduate. When he found that he was having difficulty making ends meet, he took out a 100 pound payday loan.

The acting senior Swansea coroner, Colon Phillips, expressed his sorrow, “Mitch was a loving and caring individual who was facing a number of problems.”

It was following a night out on the town that Mr. Lewis went back to his apartment and took the diet pills that he normally kept his weight in check. He then left his cryptic message on the wall of his Facebook profile and by the time his friends had found him and rushed him to the hospital it was too late.

Friends and family crowd Facebook, Twitter, and many other international forums with bad publicity for payday loan companies in Wales. The question is, did Mr. Lewis take out a loan with a payday company or a loan shark? With the new regulation, a loan cannot be turned over at that level of interest anymore. Only the illegal, scam artists can do that kind of thing to the public. Unfortunately, Mr. Lewis didn’t realise that he could have ignored those cheating leeches.

It goes without saying that if you are in need of a short term loan you should check up on the company you propose borrowing money from. There are plenty of sharks ready to defraud people and it is very easy to do over the internet. Check and check again!