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- So, it will be treated as a cash advance.
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As described above, a hybrid loan involves automatic rollovers with payment of the loan fee until a final balloon payment of the principal and fee.
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This includes buying credit, chips, lottery tickets and scratchies, as well as placing bets at sporting events or online.
The problem with borrowing from friends and family is what can happen to the relationships with those people if a person cannot repay the loan.
This can equate to thousands of dollars in savings.