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Bank mana senang nak buat personal loan

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Bank mana senang nak buat personal loan

Then, on your next payday, you can come back in to repay that 300 plus another 45 or so in interest. The problem bank mana senang nak buat personal loan, if you had a hard time raising 300 in the first place, losing 345 out of one paycheck leaves a big hole in the budget. And so before the month is out, you could find yourself coming back for another loan to cover the bills you can no longer afford to pay.

Before long, you end up entrapped in an ongoing cycle of debt, going from loan to loan, while the interest payments pile up higher and higher. A 2012 report from the Pew Charitable Trusts found that the typical payday borrower takes out eight 375 loans per year, paying a total of 520 in interest. Many borrowers cant break free of this cycle without taking extreme measures.

Bank mana senang nak buat personal loan