There is a lot of controversy surrounding payday loans. Most people simply don't understand them is all.
A payday loan, or cash advance, is a short term loan designed to be paid back by your next paycheck. The interest rate is high but the time you have the loan out is supposed to be short, so you don't get ripped off.
The rip off happens if you don't pay it back on time. Then you can end up paying a lot in debt. Just pay the loan back quickly and you won't have a problem.
You can get payday loans online as well. Research before you buy, because getting a cash advance can be costly when done with the wrong people.
They are not bad or evil, so people should stop trying to put payday lenders out of business.
Tuesday, January 13, 2009
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