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By taking out a payday loan, you can avoid the penalties that come with unpaid bills, bounced checks and overdrawn bank accounts.. Are Cash Til Payday Loans Alternatives Safe? The monetary limit of a LendUp Loan varies from state to state and person to person.
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A payday loan default can drain your bank account and trigger collection calls, a lawsuit and wage garnishment. Here are some actions you can take to protect yourself if you cannot. Failure to repay a loan is not a criminal offense. In fact, its illegal for a lender to threaten a borrower with arrest or jail.
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1. Payday loans are short term loans that are meant to put cash in your bank quickly for your immediate needs. It originally got its name because it was a loan that was meant to hold you from one payday to the next. These loans are also known as cashadvances.https://www.slideshare.net/paydayloanguide/payday-loan-guide