Payday Loan

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Payday Loan

A short-term loan expected to be repaid before the borrower's next pay day. Frequently, the borrower collateralizes a payday loan by presenting a postdated check for the amount of the loan (plus interest). The lender simply deposits the check on the agreed-upon date. Interest rates on payday loans are notoriously high.
References in periodicals archive ?
Great opportunity to get into the rapidly expanding Pay Day Loan business.
MINISTER for Communities and Tackling Poverty, Lesley Griffiths, has warned people in Wales against borrowing from pay day loan companies and high cost money lenders this Christmas.
The union said at its national conference in Nottingham that a living wage of PS10 an hour would free workers from having to use pay day loan "sharks".
Another complaint put forward by consumers revolves around the myth that an online pay day loan application will trigger penalty points and a hit on the credit report.
Coast & Country plans to support Payday Loan Danger Day, January 24 - so called because it's the date people struggling to make ends meet are tempted to take out a pay day loan.
If potential borrowers cannot access such finance for the banks, or from pay day loan companies, where should they source such finance from?
SEEMS to me that Craig Whyte used the equivalent of a pay day loan to buy Rangers.
In addition, members now have quick link access to commonly used forms, and can submit their pay day loan alternative requests online.
When you convert the interest rate of a pay day loan to an APR, the costs involved can appear exorbitant, however, because of their short-term nature expressing the rate as an APR can be misleading.
GoodMoney is a non-profit response to pay day loan stores that outnumber fast food outlets in Appleton, Wisconsin.
On another issue, Hahn criticized Villaraigosa's support for the Pay Day loan companies, saying it takes advantage of minorities and the poor with high check-cashing rates.
DGSE's growing consumer loan activities are represented by Pawn Shop activities under the name National Pawn and Pay Day loan activities under the name American Pay Day Centers.