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Here is the time until you will get all of your problems resolved . When I pay off my loan, when can I receive another loan? But even a 401(k) withdrawal is worth considering. Yes, you’ll have to pay ordinary income taxes and a 10% penalty on the money, but that’s far less money than you’d give to a payday lender. When people “roll over” payday loans, and keep the cycle of payday lending going, those loans usually average interest rates of about 400%.
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