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WeвЂ™ve all found out about pay day loans and most of us have actually either removed a quick payday loan or understand anyone who has. a pay day loan is|loan that is payday} fundamentally an advance on the paycheque when payday comes the total amount you lent, plus interest will immediately be deducted from your own account. >Some micro lenders make reference to a pay day loan as being a вЂњ1-hour loanвЂќ and you will also hear terms such as for example a wage advance, wage or payday loan вЂ“ a few of these relate to the same thing вЂ“ a term loan that is short.