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What is payday advance cash loans?

If I search for payday loans near me then can I get instant payday loans from payday lenders? Also, will this system of payday loans work evenif I have bad credit?

Actually, I am looking for a loan from reliable source online, so asking this question?
  • Answers
  • if you can get your employer to advance you money against your next paycheck it is not a loan and of course will reduce the amount of your next take home pay
    getting a loan as a payday loan is a loan anyway you want to describe it, it is assumed that you will pay the money back when you get your paycheck(thus a payday loan--the lender knows you will have the money soon to pay it )
    if you don't pay it when you get paid then interest on top of your original amount will accrue
    tro · 0 0
  • A payday loan is the WORST kind of loan. They are SHORT TERM loans that will need to be PAID IN FULL within a very short time frame. The amount of the loan is based on your income. You must either pay the loan in full or renew the loan at each paycheck. The fee for renewing the loan will depend on the amount you borrowed. You can only renew a loan six times before you must pay it back in full without being able to renew it.

    For example, if you borrow $500, you would owe them $565 just to pay back the original loan. If you can't pay it in full at your next paycheck, you would pay the $65 to renew it and you would again owe $565 at your next paycheck. Payday loans can quickly get you deeper into financial trouble.

    The amounts I listed are only examples. I do not know the actual current charges for payday loans. But, pay attention to the loan details before you get any of these kinds of loans. These are basically "legal" loan sharks.

    BTW, I recently seen on the news that new laws will take effect in 2019 that will change what these kinds of loans are allowed to charge and based on the changes, many of these places will very likely go out of business.
    amy lynn · 1 0
  • Run from them, sign with them and you're fcked
    Betty · 1 0

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