What is Payday Cash Advance?

Payday advance loan is a small amount, short-term, high interest loan that you can use and repay the lender upon receiving your next paycheck. All you have to do is write a postdated check payable to the lender in the full amount of the loan you want to borrow plus the loan fee. On the maturity date, your lender expects you to repay the loan. If you want to extend the loan repayment there is refinance or "roll over" facility where you can extend the loan, for a fee. But if you don't repay the loan the lending company may process your check and withdraw money from your checking account. While most lenders offer quick and easy cash postdated check loans are not cheap. The fees charged by online pay day loan services range from $15 to $30 on a $100 loan. If you decide to roll-over the loan three times, the fee would climb to $60 or more.  more