Monday, December 3, 2007

Payday Loan: Legalized Highway Robbery Or Real Financial Help?

Need extra money to get you to the next paycheck? Payday loans come to the rescue. However, you should be prepared to pay the price which is usually a hefty one. But there are steps you can take to minimize the financial damage.
What are Payday Loans?
Cash advance loans, post-dated check loans or deferred deposit check loans are high-rate loans and are intended to be used for short term. Emphasis here is on short term, usually 14 days since most of us get paid bi-weekly.
How does a Payday Loan work?
The old economy created the idea of living paycheck to paycheck. As if that wasn?t bad enough. In today?s economy many don?t even get to the next paycheck. So, the potential borrower writes a personal check payable to the lender for the amount she wishes t View the rest of this article


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