During turbulent economic times that many Australians are facing, payday loans are becoming a popular source of short-term financing. This has been especially true for low-income families or people on social security payment. A payday Loan is a small cash loan given to an individual based on the fact that the loan is expected to be repaid with their next paycheck. But Many don't realize that the loan will double or triple if they don't service it in time. Oliver Sliwa from Legal Aid Australia, explains.
During turbulent economic times that many Australians are facing, payday loans are becoming a popular source of short-term financing. This has been especially true for low-income families or people on social security payment. A payday Loan is a small cash loan given to an individual based on the fact that the loan is expected to be repaid with their next paycheck. But Many don't realize that the loan will double or triple if they don't service it in time. Oliver Sliwa from Legal Aid Australia, explains.
