What can I do if I can’t repay my payday loan?

If you’re having trouble repaying your payday loan, you might be able to ask your lender for an extended repayment plan.

An extended repayment plan lets you repay the loan in smaller installments over a longer period of time. Whether you can get an extended repayment plan will depend on your state law or on the payday lender’s policy. This repayment plan may be offered for free or it might carry an additional fee.

If you still have trouble making payments, or are not given the option of an extended repayment plan, there are other resources that may be able to help you. For example, you may wish to speak with a credit counselor in your area or to discuss your options. If you are a servicemember, contact your local Judge Advocate General’s (JAG) office to learn more. You can use the to find help. You can also ask your installation financial readiness office for information.

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