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A debt trap is a loan that is difficult or impossible to repay due to high interest payments; Moneytree charges 430% APR on payday loans in Nevada, [29] 460% in California, and 482% in Idaho. [30] Debt traps are commonly targeted mainly at low-income borrowers.
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This is an accepted version of this page This is the latest accepted revision, reviewed on 17 January 2025. Short-term unsecured loan A shop window in Falls Church, Virginia, advertising payday loans. A payday loan (also called a payday advance, salary loan, payroll loan, small dollar loan, short term, or cash advance loan) is a short-term unsecured loan, often characterized by high interest ...
When the money arrives: If you apply online, you might be able to get approved for a credit card instantly. If you have a banking feature or mobile wallet app on your phone, you may be able to ...
Trending Now: 6 Genius Things All ... if you needed money before payday, you might have resorted to a payday loan with sky-high interest rates or o ther alternatives to cash advance apps. But ...
When the money arrives: If you apply online, you might be able to get approved for a credit card instantly. If you have a banking feature or mobile wallet app on your phone, you may be able to ...
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