The problem is you'll be slapped with even more interest. If you can't afford the repayment now how will you afford it - plus more - in a month's time.
The dangers of payday loans. Despite their speed and convenience, there are some compelling reasons to avoid payday loans. Payday china bank personal loan application form interest rates.
Although a number of payday lenders' websites come equipped with a sliding tool showing the total amount you'll repay (if you make your repayments in full and on time), to compare loans against each other you need to check the APR (annual percentage rate).
Payday loan APRs tend to be incredibly high - over 5,000 in some cases. Regulations introduced by the FCA in January 2015 cap the total interest and fees of payday loans at 100 of the original amount borrowed, but that's still a lot of unnecessary debt compared to other options.
Repayment problems. Your repayment amount and period depends on the loan joshua doore personal loans taking out, so always read the terms and conditions carefully and make sure you're able to make the payments.
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