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What is Payday Loan Consolidation? Payday loans are short term loans which are normally paid back within a few weeks.. The repayment of payday loans is normally done via a single payment. The lender usually takes a post-dated check from the borrower.
Taking on a payday loan online that is equal to your wage or salary means that you have no additional funds to cover monthly or weekly financial obligations.. Payday loans are only borrowed for a very short period. It should be settled within a few days of it being issued, or the following payday.
Payday loans are meant for emergencies. If you find yourself using them to pay regular bills, you should consider credit counseling, debt-management aid or other type of assistance. There are nonprofit agencies that help consumers who have ongoing, excessive debt.