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A payday loan is usually a small short time loan to help you get to your next pay check if you are struggling. They usually have a high annually percentage. -Dylan

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a payday loan is a loan you take when you need immediate money and you cant wait for your payday. these usually need to be payed back in a few weeks. if they are not payed back the person who took the loan will be given a lot of interest. and it is hard to pay back.
- Adelie

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Well a payday loan is a short term borrowing in which a lender will increase a high interest credit based on the person who is borrowing income and there credit profile. A payday loan is typically a portion of the borrowers next paycheck.
-Suzy

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A payday loan is a short term loan that you can take out o the bank immediate cash needs.

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The APR is usually charged around 391 to 521 %..

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Timofey-The average interest rate per annum for a payday loan in the US in 400%.

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Disadvantages of payday loans are that they can become extremely expensive to pay back. And there are even chances of borrowers ending up paying back more than what they had borrowed in the first place.

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The main advantage of a payday loan is that you can use any justification and reasoning for this loan, and its able to access easily also you can use it any time without issue

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They are short term loans which means you can pay them back easily when you get your next check

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A payday loan is a short-term loan that can help you cover immediate cash needs until you get your next paycheck.

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A lender usually charges an interest of 20$-15$ for every 100$ borrowed. The APR charges anywhere from 391% and more than 521%.

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-Easy and Quick Access to Money

-No Credit Check

-They’re easy to access

-They have fewer requirements than other loans
-Unsecured loan

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Pay day loans are extremely expensive to pay off. They are very expensive to pay off because of the interest rate. It goes up to 521% and goes down to 391% which is still very high.

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-They’re expensive

-High rates of interest

-Risk of Being Sued

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A person who might need is some one he made bad financial decisions and need some money until there next paycheck.

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Payday lenders usually charge interest of $15-$20 for every $100 borrowed.

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a payday loan is when you need money immediately so you borrow it from the bank before you get your paycheck but you also have to payback the loan.

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Timofey-The main disadvantage of a payday loan is that it can be incredibly expensive to pay off. Another risk is that taking such short term loans can mess with the loans from one month to another.

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They are extremely hard to pay off as the interest rates are kinda high. so there is the chance the people borrowing the money having to pay way more money than they were loaned.

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On average a interest rate per annum converts for every 100$ taken an interest of $15-$20

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pros of a pay day loan is:

quick to complete, can be done in little to no time.

less requirements to be met compared to other loans

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Advantages of Payday loans are:
-Flexible
-Short term
-Processing is fast
-They’re easy to access
-They have fewer requirements than other loans
-They don't check your credit

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A person who is in need like a person short on house rent or on house repairs. They are the ones that need it the most.

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One of the advantages of the payday loan is that they are short term, meaning you can pay them back when you get your match next

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People who might need a payday loan are low-income individuals, people that need cash in a hurry, people who fell behind their monthly expenses (rent, utility bills, car payments...)

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-They’re expensive

-High rates of interest

-Risk of Being Sued

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A payday loan is a short term loan that can help you pay any immediate fees without much hassle. These are small high cost loans with normally above 100% annual rates. The payments are normally due within half a month after you receive the money.

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Paydays can come in at convenient times for individuals who need cash in short amounts of time. examples repairs, bills, and rents.

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cons of payday loans may include them being:

very expensive, dependent where you settle in, the loan can have up t0 400% interest rate

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-Easy + Quick Access to Money
-No Credit Check
-Easy to access
-Fewer requirements than other loans

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It really depends upon the amount which you borrow but usually its considered to be between $15-$20 by each $100 and yearly 400%.

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-Expensive
-High rates of interest (some are over 521%)
-Chance of Being Sued

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People with low salary jobs or for connivance in busy situations. These are mostly used for pay checks bills and fees.

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A payday loan is a short-term loan that can help cover immediate cash needs until you are paid.

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People who need pay day loans are usually low income individuals or someone who made some bad financial decisions. The money is usually used to cover rent.