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About 1 out of 10 renters has used a payday loan in the past year. Relatively Uneducated. More than half of all payday loan users have no education beyond high school. Less than 15 of them have a four-year college degree. Unemployed or Disabled. Payday lenders are perfectly happy to borrow against your unemployment or disability benefits.
Don't waste your time. Get a loan online. Why is it Better than a Payday Loan. An installment loan can be payday loans online social security much better option than the short-term payday loan, even if you get a contract for a longer period.
You may read a great advertisement, but remember that not everything that sounds good is beneficial in reality. The main disadvantage of taking out a payday loan is that many people fail to pay it off on time and land themselves in more financial trouble. As a result, plenty of people borrow more money, which is definitely not worth it as the interest rates for these loans are very high.
The direct lenders claim that it is much easier to pay the interest rate on an installment loan, and you can make additional payments when you can, so you will be able to repay the whole debt earlier and save more money.