Payday Lenders and ‘The Debt Snowball’. We’ve all witnessed the degree of customer discomfort due to payday lending.

Payday Lenders and ‘The Debt Snowball’. We’ve all witnessed the degree of customer discomfort due to payday lending.

We’ve all witnessed the standard of customer discomfort due to payday financing. The recession has driven more consumers towards this kind of borrowing since credit through the banking institutions dried out, although the APR on these can be just as much as 4,000%. The problem that is biggest with pay day loans is the fact that most of borrowers don’t use them because they are intended, and also this causes the snowball impact. […]