One of the more grotesque aspects of the legislative discussion about payday loans is the infantilization of people that use them, even by some effectively-which means advocates. If Alisha repaid the mortgage over one year, her repayments would add as much as $2,016. Keep away from Payday Loans. If the applicant is keen to pledge some security in opposition to the amount loaned to him, he can avail of more sum of money at the next price.