Payday loan lenders are not your best friends. They are businesses which offer high interest loans to those with bad or thin credit. The transaction is fast and borrowers will have quick money, but they also have short term limits to pay it back. You will be expected to pay off the loan plus fees within a few short weeks.
There is a difference in borrowing from a business than from a friend. Both offer fast opportunities to quick cash and can also bring pricey consequences.
When you sign a contract with a business for a loan of any kind, you are expected to pay the money back on set terms. Everything is put in writing from how long before payments expected to how much you will be charged in interest. Whether you are getting a loan from a bank, credit union title loan or from a payday loan online there will be fine print you should read and understand before the contract is complete.
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