Easy Renewals. If you know you cant afford to pay off your loan on time, you can come va personal loans rates before it comes due and renew it. You pay a fee equal to the interest you owe and give yourself another two weeks to pay back your loan with another interest payment. Or, in states where thats not allowed, you can immediately take out a second loan to cover what you owe on the first one.
Thats how so many users end up taking months to pay what started out as a two-week loan. Who Uses Payday Loans and Why.
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