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Payday loans might be more expensive for borrowers who have no credit history or possibly a limited credit score, as lenders may view them being a higher risk for default. Borrowers who will be considering a cash advance should be aware of the potential consequences of default, including a lawsuit and damage with their credit score. Payday loans could possibly be more expensive for borrowers who live in states with fewer regulations or restrictions on payday lending. Some payday lenders may offer loans to borrowers with bad credit, but these financing options may come with very high interest levels and fees. Some payday lenders might require borrowers to provide a copy with their diploma or any other proof of education in order to approve the money. Borrowers who will be struggling with payday loan debt should seek aid from a credit counselor or another financial advisor, that can help them produce a plan to get out of debt and rebuild their credit. Borrowers should only borrow around they can afford to repay, and may not rely on payday loans as a regular method to obtain credit. Borrowers who will be considering a payday loan should be conscious of the potential consequences of default, including legal action and wage garnishment. Some states require payday lenders to make available repayment plans and other alternatives to borrowers who are not able to repay the borrowed funds on time. Some payday lenders may necessitate borrowers to supply a copy of their social security card or other proof of identity to be able to approve the money.

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