Why do people use payday loans?

There are many reasons why people are tempted to use a payday loan. For example, they may already have a poor credit score or mainstream sources of credit are not available to them.

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Are the statements true or false

Payday loans can solve your money problems easily.

False. They cannot necessarily solve your money problems but can make them worse.

To get a payday loan you only need two things to qualify.

True. A job and a bank account.

Payday loans are marketed as a short term solution for emergency use.