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Published February 22, 2012 | By Payday Loan

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Most of the borrower rights out a cheque for the level of the loan along with a fee (not post dated as that is illegal). This fee ranges from 10% to 40% of the loan and the borrower normally has two weeks to pay it off in full. Most can’t pay it off in time and end up owing, occasionally, more in fees than the amount of the main loan.

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