I realized today that it probably makes sense to start this site off with a basic definition of a payday loan. Not everyone is familiar with them.

In a nutshell, a payday loan is a short-term loan (usually for less than $500.) Most of the time, they don't require a credit check. Payday loans are really designed to help you cover the gap between paydays.

That's a very brief definition. We'll cover this in more detail in later postings.