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Why do payday loans get this kind of a bad rap? Usually instances you will see damaging stories about payday loans and how they carry absurd APRs of over three,000%. These high APRs nevertheless are inherently flawed. An on the web payday cash advance is developed for small-term borrowing and should not be annualized to get an curiosity charge. Taking this identical logic of the payday loan critics, you would quote a hotel space for 54,000 a yr or get salmon for $15,000 a ton. It just does not function that way.

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