Good and bad are labels. Rate, term, what it buys and what happens if you cannot pay are facts.

A two week payday loan with a 15 dollar fee per 100 borrowed works out at an APR of almost 400 percent.

The same interest bill can be a fine deal or a terrible one depending on what you own at the end.

Ask what happens if your income falls by a third; that single question sorts safe debt from dangerous debt.

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