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The Payday Loans Market - Where Is It Going?

Tuesday, September 24, 2013

The Payday Loans Market - Where Is It Going?
We might think that this is a good direction. After all, being careful is not wrong. Well, it is not that simple. The fact that banks and traditional credit institutions don't approve credits with ease anymore allowed the short-term lenders to develop. Since the invention of capitalism, one of the basic laws of borrowing applied: shorter loans have bigger interests. In the case of payday loans or loans on a few months, the interests are huge, at least in the opinion of some. As the average American does not have another option to get money for daily expenses, the short-term loans with huge interests remain the only viable solutions.
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