Payday Loans: Unmasking The Risks And Costs For Informed Decision-Making
Payday loans are short-term, high-interest loans designed to provide quick cash. They are easily accessible and often do not require credit checks, making them convenient but also risky. Their exorbitant interest rates and penalties, along with short repayment periods, can create a cycle of debt. The lack of credit assessments increases risks as lenders may…