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58needcash.com Some states like South Carolina have placed limits around the fee amount allowed. South Carolina law limits this fee to 15% of the loan amount borrowed. Should you look at this in a yearly APR it would be 390% interest.
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Pay Period and similar quick cash loan schemes are not allowed in North Carolina. Other states are beginning to take into account legislation and to put laws in place that will further control and perchance even curb pay day loans altogether. Still more needs to be done.
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