A schoolboy with psychic abilities runs the risk of putting his relationships and loved-ones in danger when he starts making deals with the Devil

My word processor suggests "A male student with psychic abilities runs the risk of putting his relationships and loved-ones in danger when he starts making deals with the Devil."

I agree with either making the risk specific or taking that phrase out altogether. I think it works just as well by simply saying he puts his loved ones in danger by making deals with the Devil.

"After a failed filmmaker makes a deal with the Devil for his film to be greenlit, his film must win an Oscar or his family are forfeit as payment."

This attempt I did is just an example: However you should tell us what the deal is and what the consequences are.

Hope that helped, good luck with this!