Payday loan debts killed our son, 18 Ollie's train suicide

THE devastated parents of a teenager who committed suicide have said the 18-year-old took his life because of the spiralling debts he owed payday loan companies.

Now Geoff and Dawn Scott are calling for a cap on sky-high interest rates charged by lenders such as Wonga.

Bright IT apprentice Oliver — known as Ollie to his mates — committed suicide in September, seven months after admitting to his family he had become addicted to gambling at bingo halls.

To fund his habit, Ollie used his smartphone to access a series of quick-fix loans — some with interest as high as 4,214 per cent — with the money in his account in less than 30 minutes.                More Read