Payday loans are short-term, high-interest loans designed to provide quick cash to individuals facing immediate financial needs. Typically, borrowers write a check for the loan amount plus fees, which the lender cashes on the borrower’s next payday. These loans are often used to cover unexpected expenses, such as medical bills or car repairs. While payday loans can offer quick relief, they come with significant risks. The high-interest rates can lead to a cycle of debt if borrowers are unable to repay the loan on time. Many people find themselves taking out new loans to pay off old ones, leading to financial strain and potential legal issues.