How Unhealthy Are Paydays: The Predatory Cycle of High-Cost Loans
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4 min read
According to LendEDU, an average payday loan borrower is in debt for five months of the year, frequently due to short-term loans. So, how unhealthy are paydays for your financial and personal well-being? The answer lies in their structure: deceptively simple solutions to immediate cash shortages that can quickly spiral into a devastating cycle of debt with high fees and crippling interest rates.
