They are unfounded myths easily employed by anti pay check lenders to create people deny themselves of an chance to find solution to their immediate financial need. Pay day loans aim at working class people that need a lifeline before the next payday. It is a 2 weeks short term loan, which cannot accumulate the high quoted APR of 391%.
These multiple lender sites result in the payday lenders across thecountry compete for your loan which almost always results in the lowest market rate for the consumer. If you'd like fast cash try the link below fora top performing multiple lender site. These are liberated to use by far the easiest method to get yourself a decent rate and approved quickly. Legitimate Advance Loan Lenders
Usually the borrower rights out a cheque for the quantity of the loan plus a fee (not post dated as that is illegal). This fee can range from 10% to 40% of the loan and the borrower normally has two weeks to pay it off in full. Most can't pay it off in time and end up owing, now and again, more in fees than the amount of the original loan.