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Payday loans


Rayne
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They're effectively a scam, the interest rates are so absurd that most people dig themselves deeper. I would never take one.

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Edited by Johann
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Payday loans aren't so bad in fact as it's often said, they're just a type of short-term financial help which can be a good solution for your problems and a nice alternative instead of opening a credit, especially if you have a bad credit history. It's truth that they very high fees but it's a problem only for those who can't meet the repayment terms. They have also such risks as getting deeper in debts as an aftermarth of getting the additional fees and gaining bad credit scores which later can become a problem when you want to apply for the credit line. Considering all these things if you want to use payday loans decide clearly what certain amount of money you need and is you can repay it in time. If you're not sure about this, maybe it's better to find other ways of borrowing money.
On the other hand applying for these loans is really fast and easy https://paydayloan.network/easy-loans.html , you can finish your application form after half an hour and get your cash almost immediately. And for such companies your bad credit history doesn't matter at all comparing to banks.

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As a general rule, no. They are often scams. If you need to take a loan on such short notice, you'll probably need another loan to pay back the initial loan after your paycheck minus the loan falls short of your needs, and another one to pay off that loan... Rinse and repeat until you either go bankrupt or pay the loan company thousands to finally get out of debt. Often it's better to try and save money or even sell things.

That said, you should also be careful of applying general rules universally. If you can't cough up the money for your basic needs due to an unexpected expense, you can't sell your stuff quickly enough to pay on time, and you have a viable way of paying the loan back, a payday loan can be the least bad option.

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