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Payday installment loans also known as вЂњcash advance loansвЂќ, вЂњcheck advance loansвЂќ, or вЂњdeferred deposit check loansвЂќ are becoming an increasingly popular form of loan for people with bad credit.
В With these short term loans people looking for some extra cash will fill out the usually short application in a matter of minutes and have the desired amount they need direct deposited into their checking account which is usually up to 1500. While these types of loans are a fast remedy for those seeking some quick revenue to help cover unexpected expenses they can become a nasty pitfall for most consumers. These payday installment loans are riddled with high interest rates which can actually cause people to fall further into debt.
В To make matter worse the way that these particular loans work is that after you take our your initial quick loans of dodge co eastman ga you have the option of rolling over the loan amount if you can not pay back the initial amount right away.
В While this may sounds like a nice option each time that you do this your interest rate increases and can become as high as 390 to 780!В. It is because of these extraordinarily high interest rates that most debt resolution companies will not assist consumers by consolidating their payday installment loans.
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