What are the risks of getting a payday loan?
Most people take out a payday loan to cover a shortfall their income, or to pay a one-off expense they can't afford.
Because payday loans have such high interest rates you might not have enough money to last until your next payday once you've repaid your loan. If this happens it can seem like a good idea to take out another loan, or rollover the balance until the next month.
This can quickly cause you to become reliant on payday loans and your financial situation can become difficult to deal with.
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