Tiny Loans, Big Charges: Pitfalls of Payday Advances Barbara O’Neill, Ph.D., CFPВ® Extension Professional in Financial Site Management Rutgers Cooperative Extension Desire to just take a step that is small enhancing your funds? Avoid payday advances! Pay day loans are single-payment, short-term loans which can be produced in return for delayed deposit (typically inside a fortnight) of a borrower’s postdated check that is personali.e., a seek the advice of the next date about it). These loans pass a number of…