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Payday loans are short-term financial arrangements designed to assist you in the case of an emergency or unexpected occurrence, and their primary purpose is to ensure that individuals remain cash rich even in the event of an unexpected expenditure. Despite numerous warnings from the federal government concerning these loans and predatory lenders, the Consumer Federation of America reports that payday agreements are now permitted in 41 states. Many of the lenders operate within restrictions, but nine states prohibit residents from undertaking them completely. So what exactly should individuals beware of when considering taking out a payday loan, and how can they use them responsibly to ease their everyday struggles?