Dangers of Pay Day Loans. Probably the most apparent issue with payday advances is the very high interest levels. The absolute most apparent problem with payday advances is the very high interest levels. The cost for a pay day loan can|loan that is payday be anywhere from $10 to $30 per $100 lent, which works off to a yearly interest of 261per cent to 782percent. However these loans likewise have other potential risks which can be less apparent. These problems…