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Direct Deposit: Your loan amount will be electronically deposited into your account. Repayment takes place in the same manner, with the loan amount, fees and interest automatically withdrawn on the due date. For busy individuals who have enough to handle, this can be a very helpful option, as dates will not need to be remembered and checks will not need to be written and mailed. Lenders make money from these loans by charging interest. Every time you make a loan payment, part of that loan payment goes to the lender, and part of the payment goes towards the balance of your loan. Lenders will always charge a higher interest for these types of loans, but in times of financial crisis, you may not have any other choice. Updated July 11, 2014 by Con Way - Installment Loans We have many lenders on our panel with who we are in contact 24/7. That is why you will get a quick answer and the loan amount will be deposited in your bank account within 24 hours.
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