What is a payday loan?
Payday loans are generally loans taken out in advance of your payday. If you need $300 today and you don’t get paid until next week, you’re a good candidate for one of these loans.
What are they like?
Without question, they are one of the worst kinds of loans out there. They have insane fees and ridiculous interest. You wouldn’t want to take out a loan like this unless it was a last resort and you didn’t have any other options.
Who can qualify for these loans?
Almost anyone who is 18+ with a job can qualify, as long as you live in a state where the loans are legal.