Tuesday, May 22nd, 2007 - 3:30pm
I freely admit that in our more irresponsible days, Dan and I have taken out a Payday advance loan to cover an urgent expense. These short-term loans aren’t based on a credit report, but on the person’s next pay day, which is when the full amount of the loan plus a small fee (in our experience the fee was $20 per $100 borrowed) would be automatically deducted from their checking account.
While these cash advance payday loans can be pricey, they’re certainly a good thing if you find yourself in urgent need of cash.
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