Sunday, 2 January 2011
Common Questions about Payday Loans
Payday loans are a beneficial means in which to get quick cash when your paycheck can’t come soon enough. Most of us have been in a situation where our weekly paycheck didn’t last as long as expected. Payday loans are a great way to get extra cash to make ends meet between paychecks. They are, however, often misunderstood. The following is a list of questions commonly asked regarding payday loans: Q: What is a payday loan? A: A payday loan is a short-term loan that is taken out against a future paycheck. In other words, your ability to repay the loan is based on your next paycheck. A payday loan, which is usually a small loan (less than $1,000), is generally used to cover short-term expenses until the borrower’s next
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