Payday loans

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Payday Loans

• your life saviour

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Introduction

• Payday loan is a short term unsecured loan that
  needs to be paid at the next payday commonly
  though specific linking to the payday may or may
  not be done. It is also known as advance cash.
  Normally these kinds of loans have high pay
  interest and small amount loaned.
• Rules and regulations regarding payday loans
  varies in different countries and in some cases
  within states of a country.

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Rules and regulations

• Though payday loans are decided upon payroll and
  wages but in some cases, borrower doesnt go
  through the history and income checks.
• In some laws, interest rates are limited to avoid
  over excessive interest through annual percentage
  loan on all kinds of loans including while some
  laws also completely prohibit payday loans and in
  other cases very few restrictions are applied to
  payday loans.

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Known as

• Payday loans due to their nature are called by
  various names, most of which are
• payday advance
• salary loan
• payroll loan
• small dollar loan
• short term loan
• or
• cash advance loan

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• Tonita Dibbles - Technical Writer _at_ Payday Loans