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SSI recipients without a banking account may take a payday loan out simply by using their Direct Express debit card rather.

SSI recipients without a banking account may take a payday loan out simply by using their Direct Express debit card rather.

However, payday loans are a costly and dangerous solution to borrow cash in the event that you rollover the loan a lot of times. A rollover means you are not able to repay the balance that is full after your following planned SSI re re payment.

As an example, say you are taking https://www.personalinstallmentloans.org/payday-loans-wv/ down a $200 cash loan and spend an origination cost of $30 (15% of this initial principal). The lending company provides you with $170, and you also owe $200 right right right back if your check that is SSI arrives a lot more than thirty times later on. Lees verder SSI recipients without a banking account may take a payday loan out simply by using their Direct Express debit card rather.