What is a payday loan?
A payday loan (paycheck advance or payday advance) is a small, short-term loan that is intended to cover a borrower’s expenses until his or her next payday. The loans are also sometimes referred to as cash advances, though that term can also refer to cash provided against a prearranged line of credit such as a credit card.Legislation regarding payday loans varies widely between different countries and, within the USA, between different states.
Is a payday loan is expensive way to borrow money?
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