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Borrowers who will be considering a pay day loan should carefully review the fine print of the credit, including any fines for late or missed payments. Borrowers ought to be cautious of rollover and extension options, as they can lead with a cycle of debt that may be difficult to escape. Many states require payday lenders to disclose the APR along with other terms of the borrowed funds before the borrower accepts it. Some lenders may offer lower rates or more favorable terms than others. Payday loans might be more expensive for borrowers who have no additional options for covering home repairs or other household expenses. Payday lenders often require borrowers to deliver post-dated checks or authorize electronic withdrawals from other bank accounts to secure the borrowed funds. Payday loans could possibly be more expensive for borrowers who may have no additional options for covering legal expenses or other unexpected costs. Payday loans could possibly be more expensive for borrowers who’ve no other available choices for covering home repairs or another household expenses. Borrowers must be cautious of debt settlement scams, where fraudulent organizations promise to reduce or reduce debt in exchange for upfront fees.