Sentences with phrase «vicious cycle of debt»

This leads to a vicious cycle of debt where the person is borrowing money from other sources to be able to pay back the payday loan on time.

At Hoyes Michalos we believe payday loans are a real problem because all too often they create a vicious cycle of debt.

Even President Obama has recently weighed in, noting that some payday lenders may be «trapping hard - working Americans in a vicious cycle of debt»