John Oliver is doing a bit on Payday Loans - A simple way to get out from under if you're there.

[Spitfire of ATJ]

I know someone who got sucked in by these guys. He borrowed the typical $500 and said he HAD to to keep borrowing because he couldn't take a $500 cut.

I asked him if he could live with $100 less. He said it would be tough but he could do it.

I told him next time instead of borrowing $500 to borrow only $400. The time after that only borrow $300, The time after that only borrow $200 and the last time only borrow $100 and then you are out of the trap.

You could see the light bulb come on over his head.