In many places, there are no restrictions on the number of times that borrowers can take out payday loans and this leads to even bigger problems. In order for them to make ends meet after consumers keep on turning to cash advance loans, but the high cost of these financial products, eat away at the already limited income of the borrowers. Too many payday loan users end up in debt traps, where they have to keep on borrowing in order to keep up with their expenses.
