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Personal Finance Courses: Predatory Lending

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1.
If you roll over a payday loan three times, you will be charged a new fee each time.
Choose wisely. There is only one correct answer.
True. You will be charged a new fee for each rollover.
2.
Predatory lending can occur with which of the following?
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All of the above. All of these and many more can be involved in predatory lending. You should evaluate all of them carefully.
3.
If you have a short-term financial emergency, what is a low-cost way to obtain a loan?
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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.
4.
What do borrowers use payday loans for?
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All of the above. People take out payday loans for many different reasons.
5.
Which of these lenders requires little or no credit check when loaning money to a borrower?
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Payday lender. Payday loans are fast and usually don't require a credit check.