Pay-day loans took the life of Ollie
Date posted: 19-09-2012
THE BROKEN-HEARTED parents of a Chafford teenager who took his own life have revealed that the cause may have been debts from payday loan companies.
Geoff and Dawn Scott from North Stifford have now launched a campaign to cap on sky-high interest rates charged by lenders.
Charismatic and bright, Oliver was working as an IT apprentice at Harris Academy (Chafford Hundred) when he committed suicide.
Earlier that year, he had admitted to his parents that his gambling had run our of control.
He had tried to fund his habit by quick-fix loans but with interest rates running at over 4,000%, Ollie’s debts became, to him, insurmountable and tragically he was killed after being hit by a train on a Friday last September.
The Scott’s have now started a campaign to highlight the dangers of pay-day loans.
YT will be intervewing the Scott’s and following their campaign.