Salad Money Impact Report 22-23 WEB - Flipbook - Page 9
AMBULANCE
WORKER CLEARS
PAYDAY TRAP AND
PLANS TO APPLY FOR
MORTGAGE
Salad Money helped Adrian clear a payday
loan he deeply regretted taking and balance
his monthly 昀椀nances.
“I got a payday loan because I didn’t
know that ethical lenders like Salad
Money existed,” said Adrian, 39, who
lives in Rotherham with his partner
and works in patient transport
and 昀氀eet maintenance for the
ambulance service.
When money was tight, he had gone
to Dot Dot Loans, a high rate, shortterm lender, needing £500 to ease
his situation.
The monthly payments were £200
over six months – meaning Adrian
was due to pay back a total of
£1,200.
“I soon regretted taking out a loan
with such a high interest rate. I
was going to be paying more than
double what I’d borrowed, which was
shocking,” he adds.
“The Dot Dot Loan payments had
a big impact on our budget. We
managed for three months, but the
payments were leaving us short
each month and were becoming a
real struggle.
2022-2023 Impact Report
“I went online to check my credit
score and that’s where I found out
about Salad Money. I decided to
see if they could help and made an
application.
“The company was very easy and
straightforward to deal with. I
applied for £1,000 in May 2023. I
was really pleased that the amount
in interest I was going to be charged
was much less and my application
was granted very quickly.”
When the Salad Money payment
went into his bank account, Adrian
immediately paid o昀昀 amounts he
had borrowed from friends to tide
him over, and the £600 outstanding
on his Dot Dot Loan.
“I’m planning to pay the loan o昀昀
earlier by increasing my monthly
payments slightly, just to get myself
clear.
“If I ever need to borrow money
again, I de昀椀nitely won’t go back to a
payday lender. I learned my lesson
there. I will go back to Salad Money
and I’d recommend them to anyone
who is struggling.
“Both me and my partner, we’ve
had a few stumbles along the way
but we are almost through it and
are now looking forward to applying
for a mortgage and buying our own
home.”
“My Salad Money payments are £89
each month,” says Adrian. “They are
a昀昀ordable and I’m being charged a
lot less in interest. This has helped
our 昀椀nances dramatically. We are
now in a better place, all thanks to
Salad Money.
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