A payday loan is a short term loan that you promise to repay on your next paycheck. A payday loan is sometimes called a payday advance.

You usually have to repay your payday loan the day you receive your next paycheck or earlier (usually within two weeks or less). The amount you can borrow is usually limited to 50% of your net paycheck, that is to say the final amount you have left after any deductions from your pay, as taxes income. For example, if your net pay is $ 1 000 every two weeks, your payday loan could not exceed $ 500 ($ 1 000 x 50%).

What is a payday loan and how does it work? A payday loan, also known as a cash advance, short-term a term loan, payday advances, cash loans, fast cash and fast loans. No matter what you call them, payday loans serve as an immediate way to get cash for emergencies, bills or any other financial crisis, regardless of your background or credit history paid. A checking account is usually required to have your money, which is to set out, but some companies, please send checks instead.