Definition: surcharge (Cash Advances)
Payday loans provide cash advances to people in need of quick money. The payday loan store (or online pay day provider) can assist consumers in paying off debts such as utility bills or emergency car repairs when the cash flow is not readily available from their bank accounts.
Alternatives to Payday Loans (Cash Advances):
The FTC has the following suggestions when researching an online payday loan provider or store:
A cash advance on a credit card also may be a possibility, but it may have a higher interest rate than your other sources of funds: find out the terms before you decide. Also, a local community-based organization may make small business loans to individuals.
If you decide you must use a payday loan, borrow only as much as you can afford to pay with your next paycheck and still have enough to make it to the next payday.
Payday Loan / Cash Advances Common misspellings:
pyaday, apyday, payda, paydy, payay, paday, pyday, ayday
loan, loam, roan, lone, loin, roin, loen, roen, roam, olan, oran, lona, rona, 1oan, laon
cash, cache, cahs, csah, acsh
daance, davence, avahnc, davnce, davanse, avahnse, davace, davense, avahnce, davane, davanc, avenc, davenc, avanc, davahnce, avense, davahnse, avanse, davahnc, avence, dvance, davance, advamce, advanec, advacne, advnace, adavnce, avdance
The cost of pay day loans, under the Truth in Lending Act, must be disclosed like other types of credit. You have to be provided with: the finance charge (dollar amount) and the annual percentage rate / APR (the cost of credit on a yearly basis).
Information on No fax payday loans and quick cash advances