payday loans law Guides

Payday Loans: Laws and Regulations

Payday loans which are also referred to as paycheck advances or payday advances have come under a lot of criticism for numerous reasons. The lending practices and the sheer negligence of legal guidelines have made payday lending similar to loan sharking and other shady lending practices. The victims of payday loans are usually people who are in the low income group and do not have any other line of credit at their disposal.