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Ask Yourself: Can I Pay Back the Loan in Full?
How to Pay Back the Loan In Full?
It is important to take some time to think about whether you really can commit to paying a loan in full. You need to allocate not only current funds but also future funds to achieving this goal.
When you pay back a loan, you are paying back the principal (the amount of the loan) plus interest and fees. Make sure you know exactly how much the loan will cost with everything factored in.
Your Lender’s Responsibilities
Your lender should demonstrate to you in clear language exactly how much this loan is truly costing you. Remember, whether you apply for a new payday loan or roll over an existing one, you need to calculate and determine the true cost over the life of your loan. Check an online calculator to find out the cost of a potential loan before applying.