If you get a payday loan and have to renew it, paying the minimum required each time it comes due, will you pay back more than you borrowed in the first place in interest alone
What happens if you get a payday loan and something happens, like your vehicle breaking down, and you are not able to pay the full amount when it comes due
Do you think payday loans are a good idea? I think they have their place, but only as an absolute emergency. Interest rates are sky-high and it's too easy to get into a borrowing cycle.