Payday loans are expensive and many people get into trouble by trying to use them as more than a stop gap solution. Since these loans are easy to qualify for, many people will take out one to start, then they will get into a big hole. Because the interest charges on these loans are so high, people will chase one loan after another. After a while, they have multiple loans with multiple providers and the fees on these loans are way too high to pay. When you start extending the loan terms, you are going to pay even more, so it makes less financial sense the longer it goes.
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