It started with an ad on my Facebook feed - "Get instant cash in 60 seconds!" As a young professional living in Bangalore, the promise of quick money was enticing. My scooter had just broken down right before an important work presentation, and I didn't have enough savings to cover the ₹8,000 repair bill. Desperate, I clicked on the link.

The online payday loan process was disturbingly simple. After filling out a short form with my Aadhaar details and bank account information, I received ₹8,000 in my account within minutes. The terms seemed reasonable - repay ₹10,000 in two weeks, when my next salary would hit. How hard could that be?

Well, when payday came, I realized I could only afford to pay back ₹5,000. The remaining ₹5,000, the app said, would roll over into a new loan with additional fees and interest. I tried to reason with the customer service representative, even offered to set up a payment plan, but they refused. "Our policies are clear," the agent said firmly.

Now, every two weeks, a substantial chunk of my ₹40,000 monthly salary goes towards these compounding loan payments. I'm drowning in a sea of interest charges, unable to save anything or even pay my regular bills on time. My credit score is plummeting, and I live in constant worry about the consequences.

I've thought about taking a personal loan from my bank to clear this payday debt, but my credit history has made me high-risk. My parents in Hubli keep asking why I'm short on their monthly allowance. How can I tell them I've been caught in a predatory online lending trap?

These instant loan apps are touted as quick solutions, but the reality is anything but. This experience has left me financially crippled and psychologically scarred. I'm working overtime and cutting all discretionary spending, but the interest charges keep multiplying. Getting out of this mess feels impossible.

I wish I had never clicked on that Facebook ad. Payday loans may seem convenient, but they're a debt trap that can ruin lives. Trusted community lenders or an emergency fund would have served me better than these modern loan sharks. Learned my lesson the hard way - never again.