What is a "Pad Day Loans"? The Most Authoritative Explanation.

What is a "Pad Day Loans"? The Most Authoritative Explanation.

What is a payday loan?

A payday loan is a short-term loan due to be repaid by your next “payday,” or when you receive your next paycheck or other source of income. As the loans are meant to be covered by a single paycheck, the loan amount will generally be smaller than other types of loans – usually $500 or less.

Why should you consider an instant payday loan from Advance America?

There are several reasons you may want to consider an instant Payday Loan from Advance America, including: You can apply for an instant Payday Loan from the comfort of your own home. All you have to do is fill out our short application form online.

Can payday loans be preauthorized?

Under federal law, lenders cannot condition a payday loan on obtaining an authorization from the consumer for “preauthorized” (recurring) electronic fund transfers. 17 How long do payday loans stay in the system?

Do payday loans require a credit check?

Payday loans, whether online or in-person, typically don’t require a credit check and may be granted with instant approval. While this may tempt borrowers with poor credit, the full costs and risks of payday loans can far outweigh this benefit.

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