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Here’s the difference between the two kinds of loans: Payday Loans. Loan amount typically ranges from $100 to $1,500. Loan is short-term, to be paid back in full in 30 days or less.
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It came after the City of London Police announced it is considering launching a criminal investigation into the controversial payday loan firm’s bogus legal letters sent to tens of thousands of.
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Depending on your credit needs and desire to pay your loan off quickly, your lender may only offer you loans with an APR near the high end of the range noted above. This is an expensive form of credit. A short term loan should be used for short term financial needs only, not as a long term financial solution.
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Ricky Willis and his wife Naomi were once £43,000 in debt after maxing out several credit cards and taking out a high interest payday loan to help with repayments. just for the feeling of freedom.
This is the 13-year-old schoolboy who was offered a £400 loan with payday loan firm wonga that would have taken him almost 100 years to pay off. If Drew Dalson had accepted the 5,853%-interest deal,
Ky. payday lenders face stiffened enforcement. In Kentucky, a payday lender can charge no more than $15 per $100 in credit, and state law restricts borrowers to no more than two loans at a time, or a cumulative $500 cap. Those limits have been in place for a decade but were largely unenforceable until 2010, said Charles Vice,