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Then the pay-day loan becomes a real lifesaver! How A Pay-Day Loan Works Payday advances are little, short term installment loans given by lenders who charge an appartment, one time fee. The loans granted are generally around $500 -$1,500. Unlike regular lasting credit loans, the duration of the payday loan is short - sometimes till your next pay day, or around 1 month - thoughsome lending firms are far more flexible on this, depending on their lending policy.
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