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Lower Your Payday Loans

What is a Payday Loan?

A payday loan is a small cash advance to cover you until your next paycheck arrives that usually amounts to no more than $500. Even though they're for small amounts, they're one of the most expensive loans available—in fact, payday fees can range from $10 to $30 for every $100 you borrow. That can translate to an APR of 400% or more, compared to credit cards, which usually have an APR of around 20%.

While many people rely on payday loans in times of desperation because they're easily accessible and have few requirements, payday loans are a dangerous debt trap.

In most cases, the lenders have little regard for your ability to pay other bills or make a living — they intentionally create two options: 1) pay back the money on time including the absurdly high fees, or 2) rollover / extend your debt for an additional fee, creating a vicious cycle of never-ending debt.

The system is so harmful that some states have banned payday loans altogether.

"I can't pay off my payday loan in time. Is there anything I can do?"

If you find yourself unable to make a payment on time, don't give up just yet.


If you can't make your initial loan payment date, you can request to be placed on a payment plan, where you can pay back the amount in several installments. In some states, the lender is required to grant you an installment plan with no additional fees.


Many payday loan lenders belong to the Community Financial Services Association of America (CFSA) and allow borrowers to enter into an Extended Payment Plan (EPP). Under this plan, you get more time to repay your loan without being subject to additional fees or interest.


While this method isn't a guarantee, in some cases, your lender may be willing to negotiate your repayment terms, including interest fees and APR. There's no harm in trying!

How Does DoNotPay Help Lower Payday Loans?

Through the Negotiate Your Payday Loans product, DoNotPay will automatically generate a negotiation letter on your behalf that you can send to your lender to request better terms on your loan.

All You Have To Do:

1. Search "Negotiate Payday Loans" on DoNotPay

2. Enter the state you took out the payday loan in

3. Tell us the amount you borrowed, the date you took out the loan, and when the payment is due.

4. DoNotPay will automatically calculate the APR on your behalf, and determine the best way to negotiate your case based on the amount.

5. You're all set! You can generate your personal negotiation letter with one click, and use it to contact your lender to get better terms for your loan.