Payday loans are often seen as short-term or emergency loans. They are taken out on an as-needed basis but carry a very hefty interest rate. In fact, it’s not uncommon to come across payday loans charging up to 400 percent interest, making it one of the longest running scams. When you’re in dire straits, payday loans can offer smaller sums of money ranging from 100 to 1,000 dollars. Fees are generally charged based on the sum you borrow. In example, some places charge you anywhere from 15-30 dollars for every 100 dollars you borrow. How much you can borrow is...