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1.
If you have a short-term financial emergency, what is a low-cost way to obtain a loan?
Emergency credit union loan. Many credit unions and banks offer relatively low-interest short-term loans that can help tide you over a short-term financial emergency.
2.
How good does your credit need to be in order for you to take out a payday loan?
It doesn't need to be good. You don't need good credit in order to get a payday loan. Many borrowers do not have good credit.
3.
If you put up your car as collateral for a car title loan, what happens to your car if you pay the loan back?
You retain ownership of your car. As long as you pay the loan back, you legally must get your car back.
4.
What do borrowers use payday loans for?
All of the above. People take out payday loans for many different reasons.
5.
If you roll over a payday loan three times, you will be charged a new fee each time.
True. You will be charged a new fee for each rollover.