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The minimum term for an automatic renewal is 15 days and you will likely be required to pay renewal fees and additional interest charges. Too Many Days Till Payday.
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For example, instead of paying 390 for a 300 loan (as stated in the loans disclosure documents) some consumers have paid defendants more than 1,000 in automatic charges that would occur every two weeks, according to the complaint. In a single year from 2012 to 2013, Coppinger and Rowlands companies issued 28 million in payday loans and withdrew more than 46.
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