'It's constant - every second day I'd get messages offering me preapproved money in 15 minutes. 'Once you go to one of these lenders, all these other lenders start sending text messages asking, 'do you want a top-up this week?' 'It makes it very attractive for a lot of people.' 'It says you're preapproved for two more loans,' she said. Ms Black said when you get a loan with Cigno, you get preapproved for future loans. Her main issue is that the law does not prevent loans being made out to people like herself with poor credit histories. That is a tiny amount of debt in relation to the tens of thousands of dollars she has racked up with other lenders and credit companies over the years. ' I borrowed $75, and had to pay back $101 with interest and fees.' 'I think, 'I need dog food, I need dishwashing tablets', and I get a Cigno loan,' she said. Ms Black said she started using credit offered through Cigno about six months ago, starting with small 'necessity' purchases that built up over time. 'I'm a massive over spender,' Ms Black admitted.
Rachel Black ran into trouble with payday lenders.
