An installment loan is unlike a quick payday loan (see right here for a recently available white paper posted because of the Consumer Financial Protection Bureau on payday advances).

An installment loan is unlike a quick payday loan (see right here for a recently available white paper posted because of the Consumer Financial Protection Bureau on payday advances).

A cash advance is due at one time, frequently within many weeks, when you are getting your paycheck.

Since payday advances are due in one single lump sum payment, and so they typically carry high interest — dual or triple-digits — they can effortlessly result in a period of financial obligation where borrowers renew repeatedly, throwing your debt in the future, while continuing to repay interest that is only costs. Read more