Well, the season of giving is finishes for another year. Maybe it should be renamed the spirit of purchasing or the spirit of getting into heavy debt! Christmas is probably the largest retail event in the year and with children’s demands for the lastest gear deafening; many an individual can take out loans to ensure that everyone receives what they wish for. The ‘payday loans trap‘ is one to avoid at this time. The interest rates can spiral out of control and you can find that you end up paying many times over the original amount. Try using other lines of credit, such as a standard bank loan, credit cards or borrowing off family! If you have managed to get into an insurmountable debt dilemma, try looking at debt management companies for a solution.