IT is easy to understand the appeal of pay day loans. Under the current climate of economic austerity, we could all do with a few extra quid in our pocket.

And sadly the western world has fallen in love with credit culture – “spend now, and worry about it later”.

But as the cliche goes, if something is too good to be true, it probably is.

While it’s certainly embarrassing that the church has indirectly invested in online lender Wonga, highlighting the issue is nonetheless welcome.

Dorian Rodney is just one of thousands of people who have landed themselves in debt because of loans.

His comment that “the dream of money” is really a “nightmare” is very true.

Crippling APR rates of 5,000 per cent from pay day loan companies are madness and, unless you’re able to pay these loans immediately, you can clearly land yourself in real trouble.

Credit Unions are a far more sustainable and ethical form of borrowing, and anything that can give them a boost should be encouraged.

As for anyone who has one of these pay day loans and fears they can’t pay – seek help immediately.

As our article shows, there are some fantastic advice centres in the city.

Seek out their words of wisdom. They will give practical advice, not judgements, and will find borrowers a way out of the mire quickly. After all, missing a payment will cost you very dearly and that’s before the loan company adds further charges and administration fees.