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Payday loans could possibly be more expensive for borrowers that have a reputation bounced checks or another banking problems. Payday loans might be more expensive for borrowers who live in states with fewer regulations or restrictions on payday lending. Borrowers that are considering a pay day loan should be alert to the potential consequences of default, including law suit and damage on their credit score. Some payday lenders may necessitate borrowers to supply a copy of these social security card or another proof of identity in order to approve the credit. Payday loans might be more expensive for borrowers who may have no credit history or a limited credit rating, as lenders may view them as being a higher risk for default. Borrowers that are considering a payday advance should be alert to the potential impact on their credit rating and financial well-being, and should only borrow up to they can afford to repay. Payday loans could possibly be more expensive for borrowers who have no other options for covering technology expenses and other equipment costs.

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