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| − | == How easy is it for you to get Payday loan ? ==
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| − | Well all you need is an identification card and identification that you are working and earning a living for the next three to five months, usually some payday lenders feel more comfortable if you are earning a living for more than a year. In the U.S. many states have usury laws which forbid interest rates beyond a certain [http://www.paydayloansolutions.net/learn-how-to-choose-a-perfect-payday-loan-lender.php/ Payday loan lenders] in the month of April every year. Another good advantage is that you can easily get a payday loan even if you have bad credit history; all you do is give in your application with your employment proof and there are no further interrogations or confirmations for the loan approval.
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| − | Payday loans are quick, easy to get than any other forms of loans and are basically small loans, so it is not a hassle for you to pay back. There are however are disadvantages in this kind of loans which are the Annual Percentage Rate (APR) and the high and expensive interest rates .Critics all over America are claiming that payday loans and lenders are just out to get the common man and leave him with nothing and probably lead him or her into a debt cycle. You get to pay your bills on time and get to finish of that mortgage that you have been waiting until your next paycheck to pay off.
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| − | But why do so many people end up in debt traps? Well number one the payday lenders do not check them out and also because many people do not manage their cash well. Well I can't quite blame then because it does look like most lenders are out to do that especially nowadays when most lenders have gone online. [http://www.paydayloansolutions.net/quick-payday-loans-are-for-everyone.php/ Quick payday loans] are a small, short-term loan that is intended to cover a borrower's expenses until his or her next payday People usually take payday loan or cash advance to get through a tough time or to pay for an emergency, medical expense or repair on their car etc.
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