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Wysłany: Pią 5:52, 04 Wrz 2015 Temat postu: payday advance sacramento california |
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Payday lenders agree to deposit the $100 - $1,000 loan into the borrower's checking or savings account, usually the same or the next day following loan approval. The borrower agrees to let the lender debit his/her account on specific future dates (almost always the date the borrower receives their income) for a specific minimum amount (usually just the fee). Borrower gets the emergency funds when he/she needs them without hassles, and lenders receive their fee (typically $10 - $30 per $100 borrowed each 14 days ) for giving the short term loan. financial cash advance usa Receiving the money from your loan is easy- it is deposited right into your bank account. To prevent unreasonable and excessive rates of interest, some jurisdictions limit the annual percentage rate (APR) that payday lenders can charge. The APR is typically substantially higher than credit cards since payday loans often carry substantial risk to the lender, with an average loan default rate of 10-20%.
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