The actuality is the fact that most of these borrowers cannot repay on time and so they are forced to pay the interest and take out another loan to hide the principle. And they pay dearly for this. Currently the average borrower in South Carolina takes 10-15 loans to payoff their original loan amount.
True, you can still take out payday advances for most of these events, but as much as possible, it's advisable to just save aside on their behalf. You wouldn't like your debt to pile up, would you? Events that fall under this category are usually the home or apartment rent, car payment bills, or other such bills where there is a fixed repayment plan set up.
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