cash advance

(redirected from Payday loan)
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Synonyms for cash advance

an amount paid before it is earned

References in periodicals archive ?
According to the CFPB, payday loan companies collectively raked in roughly $3.
For this group, the payday loan market is their drug dealer.
The CFPBs rule will ensure that borrowers have the ability to repay payday loans without being trapped in a cycle of high fees and triple-digit interest rates.
But we are seeing time and time again that payday loan companies have granted loans to such vulnerable people without the correct checks and procedures having been implemented.
With very high interest rates of 45%-50%, payday loans are given in advance of the next pay cheque and cater to blue collar workers, who are paid on a weekly basis.
Citizens Advice helped one 33-year-old man granted a payday loan following checks despite suffering depression and alcoholism, having no permanent address, being previously declared bankrupt and having only benefit income.
The SCF data also suggest that more middle-income borrowers have in fact been using payday loan services since 2007, as Elizabeth Warren and others have long speculated.
New analysis from national Citizens Advice finds the average spend for Christmas jumps from PS821 to PS1,413 if paid for with a typical payday loan of three months.
As payday borrowers often have low credit scores and are credit constrained, pawnshops may be one of the only options low-income borrowers have available after exhausting payday loan options.
Regulations regarding payday loan companies were tightened by the FCA in April 2014 and a cap on payday loan charges was introduced in January 2015.
Thirty-five states have no restrictions on payday lending, leaving far too many Americans vulnerable to the payday loan industry.
In California alone, the payday loan industry is about $3 billion a year.
Likewise, this can be a stage where people simply watch some great benefits of Bad credit payday loans.