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In many cases, you can qualify for a payday loan even i want personal loan in chennai you have poor credit, and many lenders issue loans without running credit checks on borrowers.
How long do I have to pay back a payday loan. A payday loan is usually due on the date you receive your first paycheck after taking out the loan. However, some lenders require that loans be repaid within 14 best interest rates for small personal loans, even if you get paid only once a month. Other lenders may allow you up to 35 days to repay the loan. What happens if I can't pay back a payday loan.
If you can't pay back a payday loan, the lender might automatically withdraw the funds from your bank account. If there is insufficient money in your account to cover the charge, this could trigger bank fees. If the lender is unable to recover the amount due, your loan might be transferred to an outside collections agency, and this transfer could take place in as little as 30 days.
The collections agency could sue you for the amount due, and this could eventually result in property liens or wage garnishment.
Additionally, tribal lenders may require you to agree to resolve any disputes in a tribal jurisdiction. You are urged to read and understand the terms of any loan offered by any lender, whether tribal or state-licensed, and to reject any particular loan offer that you cannot afford to repay or that includes terms that are not acceptable to you. The purpose of shorter duration loans is to provide the borrower temporary financial relief.
Such loans are not a long-term financial solution. Persons facing serious financial difficulties should consider other alternatives or should seek out professional financial advice. This website is not an offer to lend.
WhiteRockLoans. com is not a lender and does not make loan or credit decisions. WhiteRockLoans.