Payday Loans

Payday loans are short-term, high-interest loans designed to provide quick cash, usually to cover expenses until the borrower’s next paycheck. They are often used for urgent financial needs, with loan amounts typically ranging from a few hundred dollars. Payday loans must be repaid within a short period, often two weeks or by the borrower’s next payday. However, they come with high fees and interest rates, making them an expensive form of borrowing, especially if not paid back on time. These loans are often considered risky due to potential debt cycles.
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