So what’s the perfect solution is to the issue? The DUCA Impact Lab thinks that the biggest solution could possibly be supplying training and advice as well as loans, so individuals can avoid or better understand how exactly to get free from high-interest debt.

A big portion of payday loan borrowers resort to credit because they don’t have any savings, are given bad financial advice, and don’t have the proper financial literacy to make sound financial decisions at the end of the day.

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