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Why do people choose payday loans to borrow money for a short period of time?

April 26, 2017borrow money payday loans people period short time

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Why do people choose payday loans to borrow money for a short period of time?

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Payday Loans are designed to meet temporary, short-term cash flow needs. As an analogy, while you would not choose to take a taxi from Halifax to Toronto, it is common to take a taxi for a short distance, such as from your hotel to a nearby restaurant. You similarly would not choose a payday loan to finance a purchase over a year’s time, but you may choose one to meet a cash shortfall until your next payday.