The tiniest checking account is better than a loan that is payday

They are called numerous names: pay day loans, cash advance payday loans, check advance loans, post-dated check loans or deferred deposit loans. What they are, though, are short-term, high-interest-rate loans directed at borrowers who require only a little cash that is extra their next paycheck.

If you are not really acquainted with this video game, this is the way it goes: generally speaking, a debtor writes your own check payable towards the loan provider for the total amount lent — plus a charge, which represents the attention. [Read more...]