Because it is easy and takes only few minutes to get you the cheapest payday loans. First of all you don't need to leave your house and you can still get your instant payday loan. Secondly when applying for a payday loan online, you don't need to provide any documents. In order to qualify for a payday loans online uk you need to be over 18 years old. You also need to have some sort of income. The income may come from any source, such as employment, unemployment, pension, benefits, etc.
The problem is, the proposed rule doesnt do that. Instead, Pew says, it would let payday lenders keep charging triple-digit interest rates while making it harder for banks to offer better, cheaper alternatives.
Pew has proposed its own rule that would restrict short-term loans, but would encourage longer-term loans that are easier to repay. Auto Title Loans. To get around the restrictions on payday lending, some lenders offer auto title loans instead.
However, this so-called alternative which is illegal in about half the states in the country is really just a payday loan in disguise. When you take out an auto title loan, the lender examines your car and offers you a loan based on its value.
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