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payday a loan that is short-term become repaid prior to the debtor’s next payday. Often, the b

payday a loan that is short-term become repaid prior to the debtor’s next payday. Often, the b

What exactly is Payday Lending?

A short-term loan anticipated become paid back ahead of the debtor’s next payday. Often, the debtor collateralizes a quick payday loan by presenting a check that is postdated the quantity of the loan (plus interest). The lending company just deposits the check into the agreed-upon date.