Payday Loans

 

Payday Loans (also known as cash advance loans, check advance loans, post dated check loans or deferred deposit loans) are short term loans readily available at short notice for those in paid employment, typically at high interest rates.

They are what they say:  a loan to be repaid at the next payday.  If they are used frequently or, worse still, rolled forward from one payday to the next, they are a very expensive way of borrowing money.

Payday loans may be useful to meet one-off emergencies.  If you usually have money to spare from each payday, but you've already spent it when something crops up, a payday loan may let you "borrow" from your next payday.  Only use these loans if you can know you will be able to repay the loan and interest from your next pay packet.

Able was I ere I saw Elba

Financial Information Services; Loans; Credit Cards

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