If I want to take out a payday loan, do I have to put up something in return like if I went to a pawn shop?

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Payday companies are not the same as pawnshops. If you decide to take a payday loan from one of these companies you will not be required to have collateral. Payday loans are considered a form of “unsecured” debt.

Instead you will have to give the lender permission to electronically take money from your checking account, or provide a check for the repayment amount that the lender can deposit when the loan is due.

If you do not have enough money in your account when the lender tries to withdraw the payment, your bank or credit union will likely charge you fees for overdrawing your account.

Payday loans are also notorious for high fees so it may benefit you to look at other  methods in securing a loan.

Asked in Elizabeth, NJ on February 27th, 2015 in Credit.
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Singaporefastloan is reputed organization in Singapore who provide payday laon and foreigner loan in Singapore. For any type of information about loan visit the website.: http://www.singaporefastloan.com.sg/payday-loan/

Singapore Fastloan Phroogie Answered on July 9, 2015.
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Many people are facing money problems in this time and if you searching a company who solve your money related problems then visit the website : http://www.paydayloan.sg/

payday Newbie Answered on July 10, 2015.
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if you are looking  payday loan trap in united state then visit the website. I think best for you. http://www.eliminatepaydayloandebt.net/

eliminatepay Phroogie Answered on August 12, 2015.
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