If you are in the military and you want to get a pay day loan, there are laws in place to protect you and your dependents. For example, there’s a limit on the amount of interest rate on payday loans.

Also, lenders must provide you with this information about your rights and the cost of the loan. If you find yourself in this cycle often, you should seek financial counseling. The military has mechanisms in place to help you and your dependents manage your money better.