Features of a Payday Loan There are three major features of payday loans that a…

Features of a Payday Loan There are three major features of payday loans that are consistent across lenders: • the loans are for small amounts • the loans come due on your next payday (usually a two-week cycle) • and you either have to give the lender access to your checking account or write them a check for the whole owed amount that they can choose to deposit when it is due.

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