AbcOfPaydayLoans.com
Title
PayDay Loans | Free Quotes for Payday Loans | No FAX Payday Loans
Description
Excerpted from the website:
- About ABCofPayDayLoan.com
- Need emergency cash? Do you think payday loan is an appropriate solution for your short time requirement of cash? If yes then you are at the right place.
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Additional Information
Title
- ABC of Payday Loans
Description
Offers payday loan quotes for free.
About:
- ABC of Payday Loans, is a US based free loan quotes provider for payday loans, no fax loans
Example for Payday Loans
For example, a borrower seeking a payday loan may write a post-dated personal check for $115 to borrow $100 for up to 14 days. The check casher or payday lender agrees to hold the check until the borrower's next payday. At that time, the borrower has the option to redeem the check by paying $115 in cash, or refinance ("roll-over") the check by paying a fee to extend the loan for another two weeks. If the borrower does not refinance the loan, the lender deposits the check. In this example, the cost of the initial loan is a $15 finance charge, or 124 percent Annual percentage rate|APR. Many states do not allow rollovers or limit the number of rollovers but, for example, if the borrower chooses to roll-over the loan three times, the finance charge would climb to $60 to borrow $100.
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