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Rather than being a long term loan, typical of the high street banks Black Kahale Warring Jersey , they are a short term solution with payday loans typically being over 30 days. Most people take a payday loan when they need money quickly, usually when an unexpected financial crisis has arisen, but how fast can you get a payday loan?
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Many people considering a payday loan worry about whether or not they will be rejected because of bad credit, but this is not a problem since payday loans companies make their decision on whether or not to lend to you based on your ability to repay the money, unlike other forms of credit where your income and credit history is considered.
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Payday loans have come in for some criticism because of the apparently high representative interest rates or representative APR that they charge, but looking at just the number alone doesn’t reflect the true interest rate.
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