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Payday advances, along with other short-term financing. Exactly what are pay day loans?

Payday advances, along with other short-term financing. Exactly what are pay day loans?

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Payday advances are a kind of borrowing referred to as «high-cost, short-term credit». You borrow between ВЈ50 and ВЈ1000 and spend back once again the mortgage with interest, in a single re re payment on or soon after your following payday. This type of borrowing is commonly more costly than various other forms of credit.