AmiSight 8/23: Beware the Debt Trap: Why Short-Term Loans Aren't Always the Answer

Friends, when times get tough, short-term alternative lenders rev up and really get going. When people are in an emotional spot, the temptation of taking quick and easy money is real. Make payroll clear and take on some overhead on a loan, but be careful; the devil is in the details. If it sounds too good to be true, it probably is. Short-term loans with quick paybacks often create debt traps. Be very careful and wary of them.