This stands for automatic clearing house, which is mainly a method used to transfer funds to and from bank accounts.

ARP or Annual Percentage Rate

This is the cost of credit which is expressed in a yearly rate. This is not the same as contract interest rate.


This refers to the outstanding in your bank account.


This is a legal proceeding in America's Federal Court which in entered into by a borrower. This is often someone who is not able to pay back his debts which allows for them to negotiate some form of partial payment or the selling of a borrower's assets. Bankruptcy information will stay on the credit history of a person for up to a decade.


A plan or method used for spending management and for saving money.


The established limit of an amount's interest rate which can be increased to an adjustable rate mortgage loan.

Cash advance

This refers to a source of cash which can be taken in the case of emergencies. This is for people who are employed but may not have access to other sources of credit. This is meant to bridge the financial gap in between now and the next pay day. The interest is charged from the date it is advanced.

Charge off

This is a credit card debt or loan which is written off as being uncollectible from a borrower. This at times is the case when the loan has been sold or given the debt to some collection agency. This debt remains collectable.

Checking account

The money which is kept in savings or a bank for safekeeping. This money can be withdrawn easily by simply writing out a check or using an ATM machine.

Security or Collateral

Often an asset which is pledged in order to assure repayment of debt.

Compound interest

Interest which is computed on the loan's balance, the balance will include all interest which is unpaid.


An individual who willfully signs a loan agreement with the borrower and partly assumes responsibility of repayment of a loan.


The promise to pay the amount at a later date for services or goods availed presently.

Credit application

A request for credit given in writing. At times an application fee will be charged in order to cover the cost of processing the loan.

Credit bureau

An organization that works to compile the credit histories of would be borrowers and also provides these reports to lenders. These reports are used by lenders for making decisions. Experian, TransUnion and Equifax are the largest credit reporting agencies in America.

Credit card

This is a card issued by the bank in order to make payments for purchases. The outstanding balance is subject to interest.

Credit counseling

A type of counseling which is provided by organizations aimed at helping consumers with ways to repair their credit so as to get their financial affairs back on track.

Credit limit

The most amount of money which is allowed to be charged on a line of credit or credit card.

Credit line

This is also often referred to personal line of credit and is the maximum amount a person can get against his or her account. Once the credit line has been repaid the person can then re-borrow against this account.

Credit report

This is a report which is actually the history of a person's debt repayment, outstanding debts, bankruptcies and late payments. It will also have his or her bankruptcies.


A business or person from who you are borrowing or someone you owe money to.

Debit card

This is a card issued by a bank or some other financial institution and often used for purchases. The purchase is deducted directly from a checking account.


The amount which is owed to a lender.

Debt Consolidation

This refers to a strategy which is at times used by people to improve their debt management issues. Instead of opting to pay several bills every month a consumer will just pay his debt with one bill to one financial institution.


The failure to pay back a loan or meet the terms the loan agreement.


Failing to pay on time.

Direct Deposit

This is an electronic funds transfer directly to a bank account, so paper check is not needed.

Equal Credit Opportunity Act

This is a federal law which prohibits lenders from any sort of applicant discrimination.


Often referred to as an electronic signature this requires a software which binds your signature or some other mark to a document. The E-sign bill was passed by the government in June 2000 which legalizes this signature.

The Fair Credit Reporting Act

This is a federal law which gives borrowers the right to lean exactly what info credit reporting agencies currently have on them, it also enables them to dispute incorrect data.

Fair Debt Collections Practices Act

This is a federal level law that works to protect people from abusive or harassing conduct or misleading and false representations for debt collection.

FDIC or Federal Deposit Insurance Corporation

Usually a federal agency which insures a consumer's deposit in their savings and for a loan of up to $100,000 for every account. These deposits will include savings and checking accounts and also deposit certificates.

Finance charge

Credit costs expressed in a dollar amount.

A fixed interest rate

A rate of interest which will not change through the term of the loan.


This is a legal process in which collateral that has been pledged for a loan can be sold in order to repay the loan if the borrower defaults.

Installment loan

This is a loan that has a predetermined number of payments and loan amount.


A fee that the lender charges for borrowing a sum of money.

Interest rate

A rate that a lender will charge borrowers in order to borrow money from them. It is expressed in percentage % per annum.


This is a court order which is made by the court and which is related to a lawsuit. It actually decides who wins the case.

Late payment fee

This is a charge for a payment which is not received in time.


This is a legal contract which allows a consumer to use some asset like a car for payment. The asset needs to be returned once the lease term ends.


A business or a person who lends or even offers loans to people.


To have legal responsibility.


When a creditor lays claim to a piece of property to ensure his debt is paid off.


Any amount which is borrowed so that it can be repaid later with added interest.

Loan Agreement

This is a legal contract which details the conditions and the terms of the loan.

Mortgage loan

This is used to purchase a piece of real estate. Here the property is actually the security for this loan.

Public Record

This is information which is gotten from federal, state or other sources which details a person's history of financial obligations which includes child support and alimony.


To pay off an existing loan with whatever proceeds have been had from the new loan in order to enjoy a lower interest rate.


The voluntary or forced surrender of items in the case of a consumer's failure to pay back a loan.

Right of recession

The right of a borrower to cancel the contract within just three working days.

Savings account

The money which his kept in a savings account and for safekeeping. Big reason here is that savings accounts will earn interest on money kept in this account.

Secured loan

This is a loan where the borrower will pledge his asset like a car or home which will be sold if he is not able to pay back the loan.


check collateral.

Simple interest

The interest is computed on the basis of outstanding as long as some portions remain still unpaid.


A document which proves ownership of property.

Truth in Lending Act

This is a federal law which mostly requires lenders to be able to disclose to their borrowers the actual cost of the loan. This will include the actual interest rate as well as the terms and conditions of this loan in an easy to understand fashion.

Unsecured loan

This is a loan given on the bases of a borrower's word to pay back.

Variable interest rate

This is an interest rate which will change based on the current index, like a prime rate.


Often used for an effective rate of return which is paid on money market accounts, bonds or savings.

How Much Payday Loans Online you Need?

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Frequently Asked Questions

  • What is a payday loan or cash advance?
  • Who can qualify for a cash advance or payday loan?
  • What amount can I get?
  • How is the money given?
  • All Questions

Representative APR 391%:

Average APR for this type of loans is 391%. Let's say you want to borrow $100 for two week. Lender can charge you $15 for borrowing $100 for two weeks. You will need to return $115 to the lender at the end of 2 weeks. The cost of the $100 loan is a $15 finance charge and an annual percentage rate of 391 percent. If you decide to roll over the loan for another two weeks, lender can charge you another $15. If you roll-over the loan three times, the finance charge would climb to $60 to borrow the $100.

Implications of Non-payment:

Some lenders in our network may automatically roll over your existing loan for another two weeks if you don't pay back the loan on time. Fees for renewing the loan range from lender to lender. Most of the time these fees equal the fees you paid to get the initial payday loan. We ask lenders in our network to follow legal and ethical collection practices set by industry associations and government agencies. Non-payment of a payday loan might negatively effect your credit history.

Important Disclosures. Please Read Carefully.

The purpose of shorter duration loans is to provide the borrower temporary financial relief. Such loans are not a long-term financial solution. Persons facing serious financial difficulties should consider other alternatives or should seek out professional financial advice.

This website is not an offer to lend. This website is not a lender and does not make loan or credit decisions. This website connects interested persons with a lender from its network of approved lenders. This website does not control and is not responsible for the actions or inactions of any lender, is not an agent, representative or broker of any lender, and does not endorse any lender. This website receives compensation from its lenders, often based on a ping-tree model similar to Google AdWords where the highest available bidder is connected to the consumer. Regardless, this website’s service is always free to you.

This service is not available in all states. If you request a loan in a particular state where such loans are prohibited, or in a location where this website does not have an available lender, you will not be connected to a lender. In some cases, you may be given the option of obtaining a loan from a tribal lender. Tribal lenders are subject to tribal and certain federal laws while being immune from state law including usury caps. If you are connected to a tribal lender, please understand that the tribal lender’s rates and fees may be higher than state-licensed lenders. Additionally, tribal lenders may require you to agree to resolve any disputes in a tribal jurisdiction. You are urged to read and understand the terms of any loan offered by any lender, whether tribal or state-licensed, and to reject any particular loan offer that you cannot afford to repay or that includes terms that are not acceptable to you.

This website does not pull your credit or look at your creditworthiness, but responsible lenders will. By submitting your information to this website, you are giving lenders in this website’s network permission to verify your social security number, driver license number or other identification, and to review your creditworthiness by pulling your credit history from major credit bureaus such as Experian, Equifax and Trans Union and from alternative credit bureaus such as Teletrack or DP Bureau.

Lender’s Disclosure of Terms.

The lender you are connected to will provide documents that contain all fees and rate information pertaining to the loan being offered, including any potential fees for late-payments and the rules under which you may be allowed (if permitted by applicable law) to refinance, renew or rollover your loan. Loan fees and interest rates are determined solely by the lender based on the lender’s internal policies, underwriting criteria and applicable law. This website has no knowledge of or control over the loan terms offered by a lender. You are urged to read and understand the terms of any loan offered by any lender, whether tribal or state-licensed, and to reject any particular loan offer that you cannot afford to repay or that includes terms that are not acceptable to you.

Late Payments Hurt Your Credit Score

Please be aware that missing a payment or making a late payment can negatively impact your credit score. To protect yourself and your credit history, make sure you only accept loan terms that you can afford to repay. If you cannot make a payment on time, you should contact your lender immediately and discuss how to handle late payments.

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