Business, 14.02.2020 23:29 kay4451

Rather than the borrower paying a small rate of interest in each billing cycle like with a credit card, the borrower using a payday loan...

Is eligible to have their loan reduced if they make their first 6 payments on time.

Avoids interest by only taking out small loan amounts.

Pays a fee when they first receive the loan and must repay it to extend.

Pays one lump sum of all their interest after the first year of the loan.

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