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What is a payday loan?

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What is a payday loan?

39 Answers

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A payday loan is a short-term loan repayable on your next payday. It provides you with a way to get cash in an emergency situation. Payday loans work as a cash advance given against your salary and help in working around the problem of meeting unpredictable emergency expenses with predictable income.

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Payday Loan or Cash Advance is a small loan up to $ 1,000 which is given to an applicant until his/her next payday.

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Payday loan is a short-term personal loan, the payment of which is backed by ones next paycheck. People use payday loans to fill the gap between paydays and to pay necessary expenses.

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A payday loan is a short term advance against your next salary payment. payday loans can be used to avoid bank charges caused by going overdrawn, bounced cheques, uncollected direct debits or unpaid bill charges.

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A payday loan is a short-term loan repayable on your next payday. It provides you with a way to get cash in an emergency situation. Payday loans work as a cash advance given against your salary and help in working around the problem of meeting unpredictable emergency expenses with predictable incomes.

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