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Archive for May, 2009

Pay Day Lending

moneytree1Is pay day borrowing smart?  Absolutely not!  The payday loan gets you out of temporary, current, financial trouble but brings more trouble.  Just as a credit card does, the borrower is allowed to postpone a debt with a payday loan but for a shorter period of time.

A payday loan has very high interest rates and means you do not have the money to do responsible borrowing.  Better to hold off on your purchase until you have the money available.