Payday loans are one such method where you can borrow a sum of money and then return it within the next payday, along with interest. But, if you aren't wise enough about this, it's better to stay away. As every other product which has its own pros and cons,
Well, we said that they come with a fee or interest. So, how much is that? Maybe 5$ or Euro or that local region currency? Nope! The fee is somewhere close to 20-30$ or Euros in many places, for every 100$ or Euro you borrow.
Many loan lenders, especially this payday lender follow a mode of payment called the recurring payment. It is also called as Continuous payment authority. This mode enables the lenders to take back the money you owe to them, directly from the bank account via your cheques or debit cards on the exact repayment date.
In the worst case that you already have problems in repaying your debt and paying credit cards, you can get confidential free service from the debt advice services. The adviser will help you to get your finances back on track, by negotiating with the people whom you owe money to.