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The continuing future of payday in america might be services that are flexible-pay

The continuing future of payday in america might be services that are flexible-pay

For employees residing paycheck to paycheck, one modest financial setback can cause serious monetaray hardship. Flexible-pay solutions enable workers to get cash from their paychecks as it is needed by them.

Luis Vazquez along with his gf had been right down to their final $50 after she got ill and had to miss work with 30 days.

He currently paid their lease and bills for the thirty days, but without her income the couple could not protect food as well as other basics. Their paycheck that is next was than per week away.

Up against a comparable money crunch years back, Mr. Vazquez had resorted to an online payday loan, a high-interest, temporary loan designed to tide a borrower over before the paycheck that is next. Nevertheless the few and their toddler son had been ultimately evicted from their apartment simply because they could not make both their lease and also the loan re payments.

Vazquez vowed not to sign up for such that loan once again. This time around, another option was had by him.