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  2. Moneytree - Wikipedia

    en.wikipedia.org/wiki/Moneytree

    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.

  3. Payday loan - Wikipedia

    en.wikipedia.org/wiki/Payday_loan

    This is an accepted version of this page This is the latest accepted revision, reviewed on 24 December 2024. 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 ...

  4. 6 types of emergency loans and their uses - AOL

    www.aol.com/finance/8-types-emergency-loans...

    A payday loan is a type of instant loan that lets you borrow $500 or less, usually without a credit check. Payday loans typically have to be repaid within two weeks or by your next pay period.

  5. Alternative financial service - Wikipedia

    en.wikipedia.org/wiki/Alternative_financial_service

    Alternative financial services in the United States, [1] [2] for example via payday loans, are more extensive than in some other countries, because the major banks in the U.S. are less willing to lend to people with marginal credit ratings than their counter parties in many other countries.

  6. Emergency and payday loan alternatives that could save you money

    www.aol.com/finance/emergency-payday-loan...

    On your next payday, you’ll make a “balloon payment” — the entire loan amount plus interest and fees — or the lender will deposit the check, and the money will come out of your account.

  7. How to get an emergency loan in 5 simple steps - AOL

    www.aol.com/finance/emergency-loan-cover-sudden...

    Loan type. Time to funding. Personal loan, payday loan, title loan. 1-7 business days. Credit card cash advance. Instant. Home equity loan, HELOC. Up to 45 days

  8. Critical factors to consider when taking out payday loans ...

    www.aol.com/finance/critical-factors-consider...

    Personal loans tend to have a minimum repayment term of 12 months, so you’d technically pay more in interest over the life of a loan compared to a payday loan ($205.55 vs. $153.42).

  9. Personal finance - Wikipedia

    en.wikipedia.org/wiki/Personal_finance

    By holding balances for long periods of time a borrower will accrue interest resulting in having to pay back more money than originally borrowed. Monthly Payments: Many lenders often require minimum payments at regular intervals to see return on their lending. If a borrower builds up high amounts of debt, these minimum payments can grow larger ...