Wondering how you pay back a payday loan online at Mypaydayloan.com? Usually, you’ll only be able to repay your payday advance loan in three different ways.
Let’s take a look at each one now.
This is the simplest and best way to repay a payday loan. You’ll simply pay the full value of your loan and any applicable fees by the due date, which is usually on your next payday.
If it’s possible for you to repay your loan in full by its due date, this is definitely the best way to repay a payday loan. It ensures that you will spend the least amount of money on fees.
Each of our loans has a minimum payment. If you can only make this minimum payment, your loan will be extended by 2 weeks. However, this also means that your loan balance will be rolled over to your next payday.
You will still need to pay fees on extended payday loans, but you won’t be charged any late fees or penalties.
This is a reasonable option if you can’t repay your loan in full, but it will result in higher finance fees.
Be aware of this before you make a minimum payment and extend your loan contract.
If you make a partial payment (you pay more than the minimum payment) the amount you pay that exceeds your minimum payment will be removed from your loan principal, and your loan contract will be extended.
If you can’t pay your loan in full but want to save on fees, making a partial payment like this is a great option.
At Mypaydayloan.com, we’re always here to help our customers get the help they need. If you have any questions or think you may have serious issues paying back your loan, please contact our agents for assistance right away, and we can discuss your options in further detail.
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