Cash Advance Payday Loan Companies Thriving After Recession

Cash Advance Payday Loan Companies Providing Much Needed Cash after Recession

At a time when millions of Americans are experiencing the worst financial hardship of their lives, payday cash advance lenders and pawn shops are thriving. Because major banks have drastically cut lending and credit card companies have made credit significantly more difficult and expensive to obtain, more and more citizens are turning to these alternative lenders to take out short-term loans, particularly payday loans, in an attempt to gain some financial breathing room for themselves. With a traditional cash advance loan, a borrower will typically write the lender a check post-dated to their next payday, normally two weeks later. When the day arrives, the lender will cash in the check, including interest and fees.

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