Five Strategies Payday Lenders Use To Screen Borrowers And Keep Fees Low
Payday loans are short term cash loans. Primarily used for emergencies but available for a range of purposes, these loans are typically funded on the day or the day after you apply, but they must be paid back on your next payday. In exchange for these convenience loans, borrowers have to pay fees, but luckily, there are a number of ways that payday lenders work to keep fees low.
Here is a look at the top five: