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A same day loan can be defined as a small amount of cash that an individual borrows while waiting for the next salary check. Laws regulating such loans may vary amongst 37 American states that consider these loans as legitimate. The Consumer Feden of America conducted a survey on hundreds of private same day loan companies and revealed that the lenders often charged exorbitantly high APR and the borrowers became the prey of such lenders.
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Another PEW study has found some interesting data on how fast cash advance loans are chosen and paid. PEW's Payday Lending in America series once again has studied the behaviors of short-term loan borrowers in order bring more light in how the industry affects the average person.
Does your debt feel like you are walking into a large pool of quicksand? The harder you struggle to escape the weighted feeling, the further you sink? It definitely sounds like the effects of being in a pool of quicksand without anybody to help you out.
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