If you need money, the problem with pawnbrokers is that you need something to pawn, loan sharks may lead to broken bones but with payday loans you can simply get one at the touch of a button. As Abelmare and Bond, a high street pawnbroker, are struggling, firms like Wonga, a ‘legitimate’ loan shark are cashing in.

The state of this country has made the pickings ripe for these companies, praying on those who have nowhere else to turn. It was revealed that 4 out of 5 people are using the service to buy food, which is absolutely outrageous. Cold homes, declining quality of diet due to increases of prices, coupled with a Government that are looking to cut your benefits anyway they can, is forcing people to use this service.

‘It will be paid back next month’ but then next month comes and a loan is needed to pay the existing loan in order to survive – the vicious circle begins.

This is capitalism at its finest, offering a service for an ever increasing clientele , and as the victims have no where else to turn, they can charge what they want. Errol Damelin, founder of Wonga, has stated that he felt no moral personal issues relating to Wonga’s trading ethics.

Until there is a viable alterative, thousands of people are turning to companies like this (I know I have been there) and then begin to drown as you realise that you cannot actually afford to pay it back.

This is where local shops used to offer credit for those who struggled to make ends meet, so at least you wouldn’t starve – now the impersonal chainstores have taken over it is no longer an option.

Just what would a supermarket do if everybody entered at an organised specific time of day, only taking what they needed, and then everybody walked out at the same time without paying.  It’s a thought!