The disadvantage of this type of loan is considered high risk by the lender if interest rates are generally very high and you can eventually repay the loan amount, plus another 10% to 30% of the loan amount per year in interest. For example, if you borrow $ 500, you should get yourself starting from $ 550 to $ 650, depending on the terms of the loan. You also have to pay it back within a very short, usually within 2-4 weeks after receipt of the loan.
Of course, while the investigation is on the Internet for the best rate loan or a good comparison, you can save a significant amount of money if you qualify.
You must also know what happens if you can not meet repayments on time, if the lender has some flexibility, especially if they do, how much it costs.
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