Sentences with phrase «term debt trap»

What begins as a quick fix for a financial emergency quickly spirals into a long - term debt trap.

Not exact matches

The Consumer Financial Protection Bureau is proposing new rules to curtail payday lending practices the agency says can lead borrowers into long - term «debt traps.»

Short - term loans, either from payday lenders or lenders that demand property such as an auto title as collateral, can ensnare borrowers in debt traps and lead to property losses while the annual interest rate can soar to over 400 %, according to federal regulators.

If you manage to escape this trap by using balance transfer card, you should try to begin approaching your credit card like a term loan — make fixed payments with the end goal of eliminating your debt completely.

If you're in a pinch and have poor credit, short - term loans can provide emergency funds as needed, but we highly advise you to pay the loan back in full as soon as possible, or you may quickly find yourself in a debt trap.

Instead, the debt grew exponentially as the Fed created the Great Moderation, which in other terms would be eventually be called a liquidity trap.

These parents can fall prey to payday loans and get trapped in a vicious cycle of long - term, high - cost debt.

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

The Consumer Financial Protection Bureau passed landmark rules in 2016 which aim to end practices that cause short - term loans to become debt traps.

To prevent debt traps, these loans can not be offered to borrowers with recent or outstanding short - term or balloon - payment loans.

No matter whether you think short term or fail to read some fine print, you may get into a debt trap while taking out a loan.

As Down To Earth magazine has reported, there are concerns that the financing terms India is providing could put Bhutan into a «debt trap».