Payday loan

       Loan should be called debt, that way it opens up the eyes of the lenders and they are then aware that they are entering an uncomfortable situation. The word loan kind of overshadow the case behind it, it left fact that the money will be consequential if not paid according to agreements. A payday loan is a type of loan that borrower can get from a local loaner or a national loaner until  payday, this means they can loan money based on their paycheck history, this way the loan company are able to estimate how much to loan out based on the borrower's pay income.