Difference between revisions of "Payday Loans"
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Latest revision as of 12:35, 12 November 2019
Definition
Payday Loan denotes a lending product of very short maturity that aims to cover borrower needs till their next paycheck
Issues and Challenges
- Very short term consumer loans may be an indication of desperate borrowers who are financing basic needs such as food or shelter (see controversies around payday lending below)
