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Borrowers who are struggling to qualify for a personal loan or bank card may still be able to access other kinds of credit, like a secured plastic card or a credit builder loan. Some payday lenders may require borrowers to deliver a copy of their marriage license and other proof of relationship as a way to approve the credit. Payday loans may have a negative affect a borrower’s credit rating, particularly if they are unable to repay the credit on time or default on the loan. Some lenders may offer lower interest levels or more favorable terms than these. Borrowers should be cautious of pay day loan scams, where fraudsters pose as legitimate lenders in order to steal personal and financial information. Borrowers who will be considering a payday advance should be alert to the potential affect their credit rating and financial well-being, and may only borrow what they are able to afford to pay back. Payday loans could be more expensive for borrowers who have no other choices for covering volunteer expenses or another charitable contributions. Borrowers also needs to be mindful of their rights under state and federal consumer protection laws, that might provide additional protections against predatory lending practices. Some payday lenders might require borrowers to offer a copy of these marriage license and other proof of relationship so that you can approve the borrowed funds.

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