How Can a Payday Loan Cause Debt?
Payday loans are an extremely expensive and high risk method of borrowing. They are usualy reserved for people who already have issues with their finances and/or credit rating.
The regular use of Payday Loans often indicates that an individual is losing control over their finances and is beginning to pay debt with debt.
Owing to their high interest rates and short payment terms it can be incredibly easy to default on a payday loan, creating an ever increasig debt problem.