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Borrowers who will be considering a cash advance should be alert to the potential consequences of default, including legal action and damage on their credit score. Some payday lenders might require borrowers to deliver references or contact information for their employer and other sources of income. Payday loans might be more expensive for borrowers that have no other choices for covering volunteer expenses or another charitable contributions. Payday loans might be more expensive for borrowers that have no other styles of credit, as lenders may view them being a higher risk for default. Payday loans could be more expensive for borrowers who may have no additional options for borrowing money, like family or friends. Borrowers who’re considering a payday advance should carefully review the fine print of the credit, including any charges for late or missed payments, and may only borrow just as much as they can afford to repay. Borrowers should be cautious of lenders who do not require any documentation or perform any credit rating checks, because these lenders might be engaging in predatory lending practices. Debt settlement involves negotiating with creditors to lessen the amount of debt owed, in exchange for a lump-sum payment or a repayment schedule. Borrowers must be cautious of lenders that do not require any documentation or perform any credit checks, since these lenders could possibly be engaging in predatory lending practices.