One of the more grotesque points of the legislative discussion about payday loans is the infantilization of people who use them, even by some nicely-that means advocates. If Alisha repaid the loan over one year, her repayments would add as much as $2,016. Stay away from Payday Loans. If the applicant is keen to pledge some security towards the amount loaned to him, he can avail of extra amount of cash at a better fee.