About this web page
Pay day loans are a kind of borrowing referred to as “high-cost, short-term credit”. You borrow between ВЈ50 and ВЈ1000 and spend back once again the mortgage with interest, in a single re re payment on or right after your following payday. This sort of borrowing is commonly more costly than various other forms of credit.
There are various other kinds of short-term financing, including:
- instalment loans вЂ“ payments are spread monthly or weekly over several repayments, typically between three and a year
- вЂrunning creditвЂ™ or вЂflex creditвЂ™ вЂ“ the way this works is comparable to a bank overdraft, borrowers and provided a ‘limit’ they need to, provided they pay at least the interest off each month that they can draw up to as an when. [Read more…] about Pay day loans, along with other short-term lending. Exactly what are pay day loans?