http://www.paydayloansindepth.com/loan/ A short-term loan requires you to pay it back quickly. If you need the money today, won't you need it in two weeks? This loan can therefore be a trap. en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 The short-term loan with high effective interest rates is often criticized by politicians, pundits, and others. These loans are easily criticized, because when treating the service fee as an interest charge, and looking at it like a one year loan, these loans are easily 100 times more costly than traditional loans. So why would anyone take out a payday loan? If your car breaks down and you need to pay for repairs, you might rather pay a $100 fee and get your car back instead of losing your job. If your child is ill and you need to pay for medication, the fast loan may be your only option. If you truly need the money now, the cash loan may be an expensive loan, but it might be the only available loan. Sat, 26 Jul 2008 15:00:00 EDT http://www.paydayloansindepth.com/loan/loans.html Loans seam simple enough, you borrow money, agree to pay it back, and then it is closed. However, modern loans come with many different terms and conditions. en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0