Pay Day Loans: Know Your Liberties. What exactly is a “cash advance? “

A cash advance is a short-term, high-cost transaction where a client borrows cash for a site fee. The client writes a individual check to the financial institution for the amount lent as well as the solution charge. The financial institution provides the consumer the loaned amount and holds the customer’s check (usually through to the customer’s next payday) before presenting the check into the customer’s bank for re re payment. You might see these advertised as an online payday loan, cash loan, or always check advance loan. Michigan legislation calls... Read The Rest →