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The truth is that a large portion of payday customers end up in dire financial straits because of these seemingly innocuous loans. Hereâs what happens. The average payday loan charges a fee of about $15 for every $100 borrowed. That might sound like an interest rate of 15%, but thatâs the fee for a two-week loan. On an annualized basisâwhich is how most people think about interest rates, or shouldâthat translates into a rate of 391%.
A payday loan is a quick solution to your financial needs. When facing a sudden money shortage problem, you can get fast cash to pay for your most immediate bills. Loansfor1000.com offers loans from $100 to $1500 for both UK and American residents.ur network specializes in all types of loans, such as home improvement, personal, payday, debt consolidation and car loans. The lenders accept application from people with bad credit (under 500 credit score), but they donât guarantee that they will approve those applications.