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A money advance is typically recognized as a 'payday loan' since it often secures a person's finances whilst they are in in between paychecks. It is a short-term loan, regularly an advance on a paycheck, that does not demand a credit check and rarely succeeds $500. A money advance is a quite hassle-free loan for people who need to have money, normally cash, instantly and perhaps have poor credit or no credit. Normally the borrower will instantly write a post-dated check for the quantity of the loan and accrued interest, to be held by a cash advance service until the date of maturity (the borrower's subsequent payday). When the loan matures, the money advance service then processes the check ordinarily or withdraws the payment directly from the borrower's checking account.

A cash advance service operates a lot like a credit card service in that if the borrower can't afford the loan amount and interest at the time of maturity, they have the choice of paying a fee to extend the loan (or 'refinance' it).

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