Payday Loan Research Paper

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While banks are the traditional means of borrowing money, payday loan venues are the alternative means of borrowing money. Judging by the sheer volume of locations, these type of lenders are popular. Monikers of “payday loans” and “car title loans” fill the urban landscape within short distances; according to volume of locations, banks pale in comparison. Consideration of why these types of lenders are so predominant leads one to believe the lending criteria is very lenient, the clientele has stellar credit and high paying jobs, or (most likely) it is a very profitable industry.
One’s estimation of the value of a payday loan is contextual. The alternative lender may consider the interest is just right due to the risk of lending money to someone

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