Question

2. What is a payday lender? What are its pros and cons?

Answer 1

Answer:

A company that lends customers small amounts of money at high interest rates, on the agreement that the loan will be repaid when the borrower receives their next paycheck.

Proof of a regular source of income, like a steady job, or recurring payment source

A checking account

A valid government issued form of identification, usually a driver’s license or passport

Explanation:

HOPE THAT HELP LOVE