Is finally here in Arizona to help you find a financing solution. Repayment and Prepayment Options: Long-term loans come with a number of repayment and prepayment options. Borrowers can pay the EMIs through ECS (Electronic Cancellation System), AD (Auto-Debit), cheque or cash. This makes it easy for the borrowers to repay the loan as per their convenience.Because of their high interest rates, many criticize payday loans as predatory lending. Payday lenders, critics allege, target low-income borrowers who are so desperate for funds that they are willing to pay exorbitant interest rates. Critics also argue that the structure of the loans exploits consumers by masking the true cost of borrowing. Those on the other side of the debate defend the high interest rates by pointing to the cost of lending to high-risk borrowers and by emphasizing the value to low-income households of having of access to (even expensive) credit. Advocates of payday lending also claim that restricting access to payday loans would simply shift consumer borrowing to other even more expensive forms of credit, such as bounced checks or late fees on bills.
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