Payday Loans and Their Stress Impact in the U.S.
Key Highlights Debt Cycle: Many borrowers become trapped in a relentless debt cycle due to high interest rates and short repayment periods. Interest Rates: Payday loans often carry interest rates exceeding 400%, complicating repayment efforts. Psychological Impact: The stress from payday loans can lead to significant anxiety and depression among borrowers. Seeking Help: Various organizations […]