A 19-year-old woman from East Yorkshire has spoken out to warn young people against payday loans after her debts spiralled to more than £15,000. Lucy Firth, a trainee dispensing optician, said her "irresponsible" spending as a younger teenager left her with no savings and led to a financial situation that worsened when she tried to consolidate her debts.
Debt spiralled after consolidation attempt
Firth's finances began to deteriorate while she tried to renovate an annexe in partner Jordon's family home. Earlier this year, she realised the full extent of the problem when she could not afford to buy a new car, fix her existing car, or go away with her partner.
In February, she discovered her debts totalled £10,000. "I tried to consolidate them using payday loans, and that's when it became a huge problem," she told creatorzine.com. "I took out three loans, totalling £5,000, to pay off as much as I could, thinking it was the right thing to do. But my monthly repayments went from £150 to £500."
Holiday decision
Firth had booked a £1,400 holiday for herself and Jordon in December 2025, before she realised the scale of her debt. The trip was planned for October 2026 to celebrate their fifth anniversary. When she contacted the holiday company to cancel it, she was told the trip was only partially refundable and she would lose around £1,200. She decided to keep the holiday.
"I would much rather take a month or two longer to pay my debt off and keep the holiday than not have the holiday, lose £1,200 and pay it off a month or two sooner," she said. "It may be a controversial decision, but after all we have been through over the years, this holiday is deserved."
Warning to young people
Firth, who has since gone on the trip, said she will not take any more holidays until her debt is cleared. She has managed to pay off £1,000 so far and aims to become debt-free by the time she turns 21.
"Payday loans are dangerous because of the high interest amounts you pay – and they are fairly easy to get," she said. "I would warn every single person to stay away from payday loans. The interest is almost always double what you borrow, so it isn't worth it. Yes, short-term cash is nice, but in the long run you set yourself back so much. All credit should be harder to get – especially for young people. It is irresponsible lending."
