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Navigating Legal Nuances
Understanding the legal framework surrounding these loans ensures that debtors can make informed choices. Workers should acquaint themselves with local lending legal guidelines, borrower rights, and the recourse out there in case of disputes or unfair lending practi
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**Cons**:
- **Higher Interest Rates**: These loans typically include higher rates of interest as a outcome of their short-term nature.
- **Potential for Debt Cycle**: If not managed correctly, you presumably can fall right into a cycle of borrowing to repay earlier loans.
- **Short Repayment Term**: These loans often need to be repaid quickly, which can strain funds if not planned rigorou
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