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It’s important to note that even low interest payday loans have higher interest rates than traditional loans. For example, you might be charged an interest rate of 200 percent instead of 400 percent. Don’t let this information deter you from seeking out a low-interest payday loan, though....
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Aside frompayday loan debtor loanshark debt (the two aren’t that different),credit card debtis the worst kind of debt to be in for the same reason; the interest rate. Even a relatively low balance can spiral when you factor in an interest rate in the teens or higher. ...
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