It's two weeks until payday, your credit cards are maxed out … and then your car breaks down. You only need a few hundred dollars for the repair but you need it now. Many people in these situations have turned to "alternative" financial services providers such as pawnshops, car-title lenders (for a loan secured by the borrower's car) and payday lenders (for unsecured loans that borrowers promise to repay out of their next paycheck or regular income payment).
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