Payday Loans Can Turn Holiday Spending into a Debt Trap

Consumers Should Avoid Loan Shark Lenders

Andy Spears

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Consumer advocates over at DebtHammer are warning that excessive borrowing to finance this year’s Holiday spending could lead to a debt trap that results in a lump of coal that lingers long after the stockings are put back in storage.

According to a recent survey conducted by DebtHammer, a majority of Americans plan to go into debt to finance Holiday shopping and gift giving. Specifically:

Though more than 78% say…

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Andy Spears

Writer and policy advocate living in Nashville, TN —Public Policy Ph.D. — writes on education policy, consumer affairs, and more . . .