What are some of the dangers of internet payday loans?

Answer 1

internet payday loans have a number of dangers associated with them. They can have high interest rates, significantly higher than credit cards, overdrafts or personal loans. Bank details may need to be shared, leading to a risk that it may be compromised when transmitted over the internet or by the lender. The money itself also poses a risk. Some loans have to be collected from a single location and these can be targeted by criminals who then prey on the people collecting their loans.