Payday Loans

As a quick remedy to short term financial emergencies, payday loans have always been popular ever since the Depository Institutions Deregulation and Monetary Control Act of 1980 came into being. It not only allowed more lenders to offer the financial solution to borrowers but approved high APR in return for a fast service.

In the United States, almost every household that belonging to low and medium level of income groups has at least one member that depends on these short-term debts quite extensively. Payday loans, although offer limited funding, have many familiar synonyms such as payday advances, cash advances, payroll loans, small-dollar loans, etc.