What are pay day loans? Payday loans are short term loans for a low dollar amount. They are also referred to as installment loans. You can apply for the majority of payday loans via online loans websites. The reason that these unsecured loans are referred to as payday loans is that the term of the loan typically lasts for the remaining time period before the next pay check of the borrower. However, if you cannot repay your payday loans at that time, you can roll them over until your next paycheck. Approval for a pay day loan is not dependent on your credit rating. The only requirement to obtain payday loans is a steady job with a regular p (more…)