How to Avoid Debt Traps in Short-Term Lending
[NigerianEye - Nigeria] - 2/06/2025
Short-term loans, like payday or auto title loans, promise instant cash but often trap borrowers in high-interest loans. In 2023, 70% of payday loan users borrowed again within two weeks, owing more than they originally borrowed. These loans carry annual percentage rates (APRs) averaging 400%, turning a $500 loan into $1,200 in fees yearly. Instant access through a mobile app loan seems convenient, but late payments hurt your credit report and pile on daily fees. Instant cash from Albert is a reliable way to get going. With tools like Albert's bank account monitoring, you can help avoid (…)
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