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Lenders typically charge considerably greater than traditional loans due to the increased threat they take on by not checking credit score.<br><br>Short Repayment Terms: Quick money loans sometimes have short repayment intervals, which may lead to financial pressure if borrowers are unable to repay the loan on time. This will likely end in additional fees or the necessity to take out another loan to cowl the preliminary loan.<br><br>Threat of Debt Cycle: Borrowers could discover themselves in a cycle of debt, the place they continually take out new loans to pay off present ones. 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