Scott is a 15-year-old student who works at a part-time job and gets paid every two weeks. His paycheck goes directly to his prepaid debit card. Due to some unexpected expenses, Scott is applying for a payday loan. After visiting the storefront payday lender, Scott was denied the loan because he

Question

06-06-2022
Business

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Scott is a 15-year-old student who works at a part-time job and gets paid every two weeks. His paycheck goes directly to his prepaid debit card. Due to some unexpected expenses, Scott is applying for a payday loan. After visiting the storefront payday lender, Scott was denied the loan because he

Sagot :

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Nikitavidya0idn Nikitavidya0idn · Answer 1 · 2022-06-18T11:39:55-04:00

Scott was denied the loan because he was not old enough to qualify.

What is the Payday loan?

Payday loan is a type of unsecured loan in which high rate of the interest is given to the borrower. It is a kind of the short term loan basically for the two weeks.

According to the above situation, Scott is cannot get the payback loan because he is minor to sanction a loan. He must have the age of 18 years or above.

Learn more about payday loan here:

https://brainly.com/question/3949419

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Sagot :

What is the Payday loan?

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