Payday Loans Can Turn Holiday Spending into a Debt Trap

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…

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Andy Spears

Andy Spears

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