Payday Max Loans - Where The Trouble Begins

We all need financial assistance at some time and that is where payday max loans come in. Payday max loans are easy to apply for and easy to receive. It is always united cash however, to remember that your payday max loan is in fact an advance on your next pay check. Most people tend to forget this fact once they receive their pay day loan and this is where the trouble begins. When you apply for your no fax pay day loan you agree to repay your loan amount plus the fees with your next pay check. Many people don't do this and some end up in serious debt.

The Reality Of Payday Max Loans

Studies have shown that almost 96% of all pay day loan applicants know the consequences of delaying repayment of their fast pay day loans. These consequences are additional fees and these fees really can be quite astronomical. Most pay day loan lenders charge a minimum of $15 per $100 borrowed. If you miss your repayment you get an additional $15 per $100 roll over fee charged to your account for your advance til payday loans online.

What Does This Mean To You?

This means that after only one month you will be paying and additional $30 per $100 you borrowed. If you borrowed $1000 initially your loan amount after just one month would in fact be $650. Now add on another roll over fee and another and pretty soon you could end up with a serious debt on your hands. Everyone who applies for a no fax pay day loan knows this and yet it still happens. A study found that almost 80% of all pay day loans experience at least on roll over extension.