Sentences with phrase «in a cycle of debt»

This way, you can be sure that you won't be trapped in a cycle of debt which can be relatively hard to break.

Otherwise, you'll be stuck in this cycle of debt for generations.

If you're caught in a cycle of debt or are struggling to pay your bills, you might want to consider enrolling in a credit counseling program.

Ultimately, this keeps them trapped in a cycle of debt.

So many people and families get stuck in the cycle of debt.

Secured by a post-dated check, direct access to a borrower's bank account, or a car title, these loans frequently trap borrowers in a cycle of debt.

But the way they trap consumers in a cycle of debt is through their access to the customer's bank account, either through a check or ACH transfer.

Lenders would still be free to charge annual rates well into the triple digits, but the law would eliminate what critics say is the worst aspect of payday loans: borrowers caught in a cycle of debt by taking out loans over and over.

The subsequent scenario, coupled with the initial unfortunate situation that necessitated the borrower to approach the lender, leaves most folks in a cycle of debt that will take some time to get out of.

Offering payday loans that trap people in a cycle of debt could rapidly erode that trust.

Once you start carrying a balance, and paying interest on it, you can get stuck in a cycle of debt and interest.

These ordinances are designed to help protect people from predatory loans that attempt to trap consumers in a cycle of debt.

It is this second feature that in the 19th Century first earned even nonviolent loan sharks their «shark» moniker — a single loan, even if it is expensive, looks harmless enough, but stealthily traps the borrower in a cycle of debt.

Borrowers end up paying horrendously high interest and become trapped in a cycle of debt.

«A payday loan is designed to keep you in a cycle of debt,» Green says, adding that his company's goal is to help move people up the credit spectrum rather than trapping them at the bottom of it.

With the expensive fees payday lenders charge and the possibility to extend the loans more than once, you can easily find yourself in a cycle of debt, a target of collection efforts or both.

The Case for Banning Payday Lending: Snapshots from Four Key States (June 2013) This report outlines the battles against the payday lending industry in states with strong usury cap protections, such as New York and North Carolina, and in states like California and Illinois with weaker laws that allow payday lenders to charge triple - digit APR loans that trap people in a cycle of debt.

If you are unable to meet up your obligation at the due day, you may soon find yourself in the cycle of debt.

In most cases, these are predatory lenders whose top interest is to rip you off your money or even get you trapped in a cycle of debts.

If caution is not exercised, you may find yourself in a cycle of debts.

They do not try to trap you in a cycle of debt and they make all terms clear up front.

Why it's a big deal: Similar to paying just the minimum on your credit card bill, not taking a break from using plastic while in payoff mode will keep you trapped in a cycle of debt, which might also hurt your credit score, says Moogalian.

Try to avoid taking advantage of these features that are technically legal but can land you in a cycle of debt.

These lenders also let borrowers continually renew the loan by paying only interest, trapping them in a cycle of debt.

This saves you from getting caught up in a cycle of debt.

But you don't have to end up trapped in a cycle of debt or pay outrageously high - rates and fees to high - rate lenders.

Lower - income borrowers often wind up trapped in a cycle of debt, taking out a string of payday loans, paying high fees with each one and falling further behind financially.