Deferred presentment
The legal name for a payday loan in many state statutes.
What "deferred presentment" means
"Deferred presentment" (or "deferred deposit") is the statutory term many states use for a payday loan: you write a post-dated check or authorize a future debit, and the lender agrees to defer presenting it until your next payday. States like Florida, Alaska and North Dakota regulate payday lending under a Deferred Presentment Act.
The label matters when you research your state's law: a state may have no statute mentioning "payday loans" while heavily regulating "deferred presentment." It also often defines rules that exclude collateral — which is why some states' payday laws bar taking a car title.