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Payday Loan
By Tony

Does I just need enough cash to tide me over until payday." sound familiar to you? I'm betting it does. We constantly find ads to this effect on the radio, television, the Internet, and even in the mail. The type of loan being referred to, of course, is payday loans. And they come at a very high price, too, by the way.

Payday loans have become a way for people to get fast cash. Check cashers, finance companies and others are making small, short-term, high-rate payday loans that go by a variety of names. Sometimes, they're called cash advance loans, check advance loans, post-dated check loans or deferred deposit check loans.

But how do payday loans work? Well, usually, a borrower writes a personal check payable to th...
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In the News
Pay Day Loans Firm Wonga Sets Its Sights On Small Businesses
Controversial pay day loans company Wonga is targeting Britain's small business with the launch of a new service to give companies "an instant cash flow... Read More ...

Amigo Loans and the dangers of being a guarantor
A new loan company is offering loans without credit checks or fees. The catch? You need to persuade someone who owns their own home to guarantee it. Read More ...

Broke 20-Somethings Are Living Off Payday Loans, Check Cashing And Prepaid Debit Cards
Payday loans, check cashing and prepaid debit cards have found a new customer in the cash-strapped twentysomething. Read More ...

 

 

 
 
 

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