The dangers of short term borrowing

Being out of money and facing bills and living costs is a scary situation. Being out of money and facing bills and living costs along with the high interest rates of a payday loan is even worse. Short term borrowing is not a life boat or a stop-gap measure. While it will help you get through one tough situation, it can make the next one even worse, once the high cost of repaying these short term loans is factored in.

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National Debt Line

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About

After a number of bad personal experiences with non-conventional lenders I decided it was important to make people aware of the hidden costs of short term borrowing, particularly since as it is becoming very common.


Please note all the information here is my personal opinion and does not constitute professional financial advice - I recommend you check with a qualified independent financial advisor before making any major financial decisions.


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