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Payday loans are not a solution to long-term financial problems and will only be used being a last resort. Borrowers should be prepared to offer this documentation to be able to qualify for the payday loan. Some payday lenders may need borrowers to deliver a copy of their passport and other government-issued identification in order to approve the borrowed funds. Borrowers that are considering a payday loan should carefully review their budget and ensure that they can afford to repay the borrowed funds on time. Borrowers who will be considering a cash advance should be aware of the potential consequences of default, including legal action and damage with their credit score. Payday loans may be more expensive for borrowers who live in states with fewer regulations or restrictions on e-transfer payday loans canada 24/7 lending. Some lenders may offer pay day loans with lower rates or more favorable repayment terms than the others. Borrowers that are considering a cash advance should be aware of the potential influence on their credit rating and financial well-being, and may only borrow what they could afford to pay back. Payday loans may be more expensive for borrowers who may have no additional options for covering relocation expenses or another moving costs.