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+When contemplating payday loans, it's important to grasp the actual monetary implications. For instance, if a new borrower takes out a $500 payday mortgage with a two-week reimbursement term at a 15% payment, they'll owe $575 when the [Unsecured Loan](https://topgradeapp.com/ko/lesson/-44) is due. If the borrower can't repay the mortgage throughout the specified period and opts for a rollover, they may face additional fees, additional growing their debt. A staggering statistic reveals that simply about 1 in four debtors end up borrowing greater than they initially took out. This can accumulate quickly
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