ASIC set to regulate exit fees. Current average loan will take at least 1.5 years to pay off switching loans. Make sure you do the sums and work out the best option for you.
RateCity welcomes crack down on early exit fees
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Can I get a $1,500 payday loan with bad credit?
Yes, it may be possible to get a $1,500 payday loan with bad credit. Some payday lenders give loans to people with bad credit histories if they believe the borrower has the capacity to repay the loan.
Under Australia’s responsible lending rules, lenders aren’t allowed to approve $1,500 payday loans if they don’t believe the borrower can make the repayments.