Payday Loans

Payday Financial loans | Interest and personal debt | Finance & Money Markets | Khan Academy





How Payday lending will work. Produced by Sal Khan.

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Finance and capital markets on Khan Academy: Most of us have borrowed to get a thing. Credit rating cards, in certain, can be quite effortless (but perilous if not applied in moderation). This tutorial clarifies credit history card curiosity, how credit history card firms make funds and a far more foolish way of borrowing funds named “payday” loans.

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47 comments

  1. I really love the way you present the calculation, especially on percent increase (8:16), I did a similar thing (at that video time) on finding the total of a taxed product instantly, for example: Michigan's (the place I'm in) tax rate is 6% and I'm buying a product that is $3.99, do [3.99*1.06] and the result should be 4.2294 ($4.23 rounded to nearest cent).

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  2. So what happens if there is no money in the account and the check bounces?

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  3. PAY DAY LOANS IS ANOTHER FORM OF LEGALIZED LOAN SHARKING,MINUS THE BROKEN LEGS IF YOU CAN'T PAY IT BACK!

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  4. please good ideas send of lone in hindi motivation videos

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  5. thieves

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  6. Gᴇᴛ Pᴀʏᴅᴀʏ Lᴏᴀɴs Fᴀsᴛ ᴀᴛ: LegitCashLoans. com

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  7. No one who gets payday loans is watching this.

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  8. Payday loans is as good as you are capable of paying it at a given period of time.  Payday loans online could be more comfortable and quicker for those who have hectic time and in need of fast cash. Cash is liquid, so use it wisely for what is it intended for.

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  9. strongly agree…

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  10. payday loans is good for as long as you are going to use your fast cash to your urgent but meaningful purpose.

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  11. Amazing video would love to see more from you. Now a days many people are using payday loans to solve out their financial problems. It is the most easiest way to get money during the financial emergencies. I am also willing to apply for a payday loan. Many of my friends recommend 1stratelendes(dot)com. It is a trusted company and they provide money very quickly.

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  12. Do you need some money fast & very simple? Well, there are many payday online borrowings services that can help you out of any tacky economic position. I endeavoured a wide variety of them and finally have discovered the best one! Now you may ascertain out this good and dependable service yourself. Just bang HERE for getting instant money in your bank account! best loans web sites : quickdoorstep12monthloansnoguarantor.co.uk/

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  13. actually the payday loans we've been seeing are 200 to 400 apy.

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  14. Thank you! This video will be very helpful for my future business ventures.

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  15. omg.. this is an awesome business. i need to get in

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  16. Never have. You think you're smart, but you're a moron.

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  17. Urine Idiot

    No one forces you to take out these loans,

    Do like most normal people, save up your money

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  18. how get easy, just simple

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  19. It's good information to know

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  20. Credit cards: The Payday Loans for lendees with BETTER credit!

    You think 30% APR store-cards are epic rip-offs, but they feel more like grants from your parents when you factor in that the payday loan interest rates are >600%!

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  21. or you can go here. check it out!! adf..ly/Ka7E8(remove 1 dot)

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  22. Lenders from our brokering site, provide small cash loans fast to pay urgent expenses. You can take cash with us and can make repayment on your next payday directly.

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  23. The best 2013 online payday loans is greendotloans(.)com
    They will take care of you and send your loan to your checking
    account.

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  24. Amen!

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  25. How do payday loan companies verify your identity as they don't do credit checks? they ask for your national id

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  26. It's good information to know, because then you can act accordingly.

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  27. Business Question: What is the percentage of people paying back these loans? Do they really pay them back? They must be if there a lot of businesses providing these services.

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  28. Hey, the moment I told my pals that I was going to go earn a living online, they teased me. But after that I showed them my cash flow. Go and Google Tube Cash Exposure to learn simple methods to make money online.

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  29. Fast secure payday loan legit check it out! ===> cashdollarloans.info

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  30. Payday Loans should be viewed as a SHORT TERM LEVERAGE! The 1st two payments to pay off the loan in full is good but once you go beyond that then you're in a losing position. I've been with payday loans for a while and it's never been a problem because you must know how to be responsible for all your personal monetary management. The finance charge is far better than hearing a relative or friend bringing up the time you 'borrowed' when there's dissension down the road…tbc

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  31. It's not 25% it's 32000% per year for the mathematically challenged. It's pure usury. You might long for the days of company script, the town store and being owned outright by your employer, I for one do not. LOAN SHARKS are more honest than "payday loan" outfits.

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  32. Some people NEED this money, and they cant get it anywhere else, even if its 25%.

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  33. paydaymonster.co.uk/?AID=QUIDDI_483&SAID=REPLACEWITHVALUE
    click the link above and save 25%

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  34. These loans should be used responsibly

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  35. Maybe he did touch on the pattern I suggested, only in a different way.

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  36. There is a 3rd option not touched on in this video. You don't have the $625 after the 2 week period in you bank account. So you go into your friendly neighbor payday loan store and pay the $125 and you get an extension.

    Now you have paid the $125 and still owe the $625.

    So, in 2 weeks you don't have the $625. Yo go in and pay the $125 for another extension.

    You have now paid $250 and still owe the $625.

    See the pattern developing?

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  37. These places are owned by the big banks. So borrowing to avoid overdraft fees, they get paid anyways.. These places are organized crime made possible by paid off politicians. It's OK for the government to be trillions in debt, but if you cannot pay up, go to jail scum.

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  38. @Thehours1000 Does this scam still work today?

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  39. I moniter all 3 of my credit reports every month. It's clean. Those guys never did send it to my credit report. All I did was close my bank account when I got my loan. Eventually I changed my number cause they wouldn't stop calling. Oh yeah I ended up switching jobs to so it was not like they could call my workplace. The references I put on the app? Fake numbers. The girl never bothered to check BEFORE giving me the $1500. So, thank you payday lender! I truly enjoyed spending free money!

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  40. Hate these places. Just to teach them a lesson, I went and borrowed $1500 from these payday lenders. I didn't pay back. I was threatened, told that I was commitung fraud, told that it would go on my credit report. I laughed and and was equally rude to the collection guys on the phone. I told them that they would not ever get a cent from me. "We'll garnish your wages," they said. Only in your dreams I said. This was 6 years ago. They never did follow up on their threats.

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  41. kwickquid.co.uk is quite good

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  42. is this the same as payment-in-kind (PIK) loans?

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  43. Can you do a video about loan sharking?

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  44. @fothpima yea, but one dose of heroin or one cigarette probably won't kill you either. Payday loans are one of those things it's best not to touch to begin with.

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  45. @FortNikitaBullion Thats where you are making an assumption about the circumstance for which I think there is some benefit for doing the payday loan. I agree people do get into bad situations, but the intent of my coment was to say if it is a one time deal and not a continuous money problem then this would make financial sense (if money was not going to be there in the future than other alternatives should be investigated).

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  46. @fothpima I disagree that the $25 interest is better than the $35 late fee. A late fee generally is due once. Most people will take a payday loan over and over and over. If you find yourself in a bind without a loan due, how can you live AFTER paying the loan?

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  47. @FortNikitaBullion But if that "odd" job is not an option (or selling something) this still gives people an option to not be late on a bill in an emergency (I personally would avoid this like I said before – it is just not that simple in all cases to do what you said, so a small plus for their existence … and I do mean small).

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