With over 10 years’ experience, Global Client Solutions is a leading name in its industry. Global Client Solutions provides third-party payment processing for consumers who are working to pay off personal debts from sources including payday loans, which garnered attention in a recent piece published in The Atlantic.

1. Are Payday Loans Right for You?
Global Client Solutions

2. Introduction
 With over 10 years’ experience, Global Client Solutions is
a leading name in its industry. Global Client Solutions
provides third-party payment processing for consumers
who are working to pay off personal debts from sources
including payday loans, which garnered attention in a
recent piece published in The Atlantic.
A payday loan is a short-term loan designed to help
people make ends meet between paychecks. Rather
than a typical form of credit that accrues interest over
time, lenders usually charge a lump sum for the privilege
of borrowing. Today, the cost of an average payday loan
is about 40 percent of the principal amount. That means
that for every $100 cash advance, the customer actually
repays $140 or more if there are penalties.

3. Payday Loans
 A payday loan can become problematic if consumers
rely on them on a regular basis. This can lead to a
debt spiral from which many find it hard to escape.
Furthermore, because they are expensive for
lenders to make, lenders commonly request large
fees for this up-front money.
As a new "middle class" develops today, consumers
must be conscientious about their borrowing
practices to ensure fiscal responsibility and long-
term viability. Practices such as payday loans may
work as a provisional means to serve a limited
purpose, but borrowers should recognize the cost of
this sort of money and proceed with caution.