LibraryScenariosWhy payday loans create inescapable debt cycles
Scenario

Why payday loans create inescapable debt cycles

I've been using payday loans to cover emergencies but the cycle of borrowing to pay back loans is destroying me and I don't see any way out.

Zera
Online
The coach is replying

More people experience this than they realize.

What we've seen

Predatory lending fills the gap left by mainstream financial exclusion, creating deeper forms of economic bondage.

Ideas that help explain it
Worth thinking about

“Where Are You with Financial inclusion and the unbanked?”

If this sounds familiar, the Library can help you find the bigger picture.