Payday Loans: A Quick Solution or a Costly Trap?

Payday loans

Payday loans are short-term, high-interest loans that provide fast cash until the borrower’s next paycheck. They are also sometimes called cash advances, check advances, or deferred deposit loans. Payday loans work by providing an amount of cash upfront in exchange for authorization to electronically withdraw funds from the borrower’s bank account on their next payday. … Read more