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www.my411money.com/While expensive, payday loans provide a short-term solution to borrowers who don’t qualify for anything else and who may not have a bank account. They can be quite predatory, so be careful if you need to borrow them.
Most payday lenders won’t check your credit and offer loans up to $500. Since brick-and-mortar lenders offer checks, you may be able to get your loan within a few hours.
Still, payday loans should only be used as a last resort because the cost is steep — often well over 300 percent. You will also have to repay what you borrow by the next payday or face hefty fees if you choose to extend the loan term.