If you’re looking for the quick cash of a payday loan — but with more time to pay it back, in installments — you do have some options. Lenders may market such loans as “payday” installment loans, or simply as installment loans.Nov 2, 2020
For example, our stores offer an Extended Payment Plan — where available under state law — that allows customers a longer time period to repay at no additional charge. In fact, about 90 percent of our customers repay their advances when due and 95 percent are ultimately paid off.
Yes. On or before your loan comes due (even if it is your first loan), if you tell your payday lender you cannot pay the loan when it is due, the lender must tell you that you can have an installment plan (a payment plan). Any such plan must be in writing. You and the lender must both sign it.