Do you need just a few dollars to get you through to next payday? Have an unexpected expense come up, but you have no savings or credit cards to use? For many people in this unfortunate financial circumstance, the answer is a payday loan. But is this a wise financial choice to cover emergency purchases — or even everyday expenses — when your cash runs short?
Sometimes called “cash advances,” these loans were listed as one of the five most dangerous loans by Bankrate.com. How do payday loans work and what exactly is so dangerous about them?
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