Why do people choose a payday advance to borrow money for a short period of time?
Surveys show that while most people typically do a good job of managing their household budgets, many of us need occasional help. An increasing number of consumers choose a payday advance to cover unexpected expenses or bridge a short-term cash shortage between paydays. A payday advance is a short-term loan that provides a sensible alternative to overdraft protection, bounced checks, late payment charges on routine bills and credit card balances, some of which can tarnish a consumer’s credit rating.
