There is now a new place for a person to spend their tax return, and it is a shame it even has to exist.
Short term loan consolidation at tax time is a new trend, and a not so popular one at that.
What used to go for that new TV or trip to the water park is now helping bail out out of control payday loan debt.
The farther people get into these traps, the more they need to search for ways of getting out of the mess these loans end up creating.
Now it seems instead of a good time the money is going to be used to catch up on short term loans.
A shame and a waste
Because these loans are set up with such a high interest rate, many times all the way up to 900% APR, and most people do not know how to properly use a payday or short term loan, there will be no vacation this summer.
The reality of this situation is this hurts the people who have to use their refunds for this purpose by robbing them of being able to enjoy this money.
It also takes away the spending power that money would have created had it been spent differently.
Hopefully in the future we can all become a bit more educated in how to avoid getting into these payday loan traps and be able to enjoy our refunds again.
Make A Change!
I am happy to say I have an alternative that just may be able to save that summer vacation for you.
What if I told you I could set you up on a bi weekly or monthly payday loan repayment plan with payments you can afford and no more collections, interest, or phone calls?
All of your loans all rolled into one payment, and the pressure off from any collection efforts, and the tax refund still sitting there ready to be used for what you choose to blow it on! Not a bad sounding plan right?
Well, it is all true and we can do just that, and hopefully save the vacation or that new TV at the same time!