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Repayment of Payday Loans 101

At CashNetUSA, we realize that cash can get tight at the most unexpected and difficult of times. That’s why generally,*** if approved, we’ve set up our payday loans to be quickly funded into your bank account so that you can cover your immediate expenses before your next payday.* But what about repayment? Two of the most common questions people have about a payday loan are, “how long do I have to repay payday loans?” and “when is my payday loan due?” The answer is simple — you have until your next payday! Your due date will be your next payday, which is usually between eight and 35 days from the date when your loan is first issued. It’s important to note that each state has different rules and regulations; that’s why it can be helpful to visit our Rates & Terms page first to see the exact rules specific to your state.

If you’re not interested in brick-and-mortar lenders, it can be a relief to know that there are online lenders out there, including CashNetUSA. If eligible, you can apply to get financial relief from these lenders. There’s nothing more stressful than encountering an emergency expense, only to find that you don’t have enough money left to pay for it. A cash advance may come in handy in this situation. But all good things must come to an end, and that’s true for CashNetUSA cash advances as well – on the due date, you will need to repay the loan. While it’s always best to repay a loan on its original due date, there may be situations in which additional unexpected expenses arise after taking out a loan, making payday loan due dates especially difficult to meet. Depending on your state, CashNetUSA may offer repayment options to eligible borrowers in this situation.

New Customers: Use Promo Code CASHNET50 on Your First Loan

Save 50% on the initial loan fee of your first payday loan or receive a 50% rebate on the interest or fees of the first two payments of your first installment or installment-payday loan, respectively. Promo code not valid for the CashNetUSA line of credit product.+++

Which Repayment Option Is Best for You?

So how does repayment of a payday loan work? You may have several different options with CashNetUSA, depending on your eligibility and your state’s rules and regulations: pay in full, make a partial payment or request an extension. Paying in full means entirely repaying the loan on or before the due date. Making a partial payment (if eligible) means repaying only the loan fees and a portion of the loan principal on the first due date. Doing so lowers the outstanding loan principal and allows the borrower to make a second payment on the loan at the end of their next pay cycle, which is the next best option.

If something comes up and you’re unable to repay your loan, you may be eligible to request an extension as a last resort. This would allow you to push your final due date to a later date for an additional fee. You would then only pay a loan fee on your original due date. Requesting an extension can sometimes be a very convenient option to eligible borrowers, but it should be the last option. Repaying your loan in full on your due date is always the best course of action. To find out whether extensions are available to qualified borrowers in your state, visit our Rates & Terms page.

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Back to Everything You Need to Know About Payday Loans

*CashNetUSA and third-party lender funds are generally deposited via ACH for delivery next business day if approved by 9pm CT Mon. – Thu. or by 7pm CT Sun.

CA residents: CashNetUSA California Finance Lenders License file no. 603 H010, DE residents: Licensed by Delaware State Bank Commissioner License #9546 Exp. 12/31/2014, OH residents: Ohio Credit Services Organization Certificate of Registration no. CS.900076.000.

**Not all loan applications or extension requests are approved. Due to state and verification requirements, not all applicants for online loans may be eligible for instant approval by CashNetUSA or third-party lenders.

***Some customers applying for payday loans or installment loans may be required to submit additional documentation due to state law and qualification criteria.

†CashNetUSA or third-party lender does not perform traditional credit checks as part of its credit transaction approval process, but does verify applicant information via national databases including, but not limited to, Clarity. If you have defaulted on past transactions, you may be declined for a cash advance from CashNetUSA.

‡Maximum funded amount for payday loans or installment loans depends on qualification criteria and state law. See Rates and Terms for details.

++Please see Rates and Terms to check the availability of online loans and extensions in your state. CashNetUSA is not a lender in all states. In some states, CashNetUSA will (i) act as a Credit Service Organization to arrange a loan between you and a third-party lender, or (ii) in Texas, act as a Credit Access Business between you and a third-party lender.

+++If you are a Payday, CSO, or CAB customer, discount will be applied to the initial loan fee, CSO fee, or CAB fee, respectively. If you are an Installment or Installment-Payday customer, the rebate shall be calculated by multiplying the percent discount by the first two scheduled installment payments of your loan. However, the rebate shall not exceed the actual amount of accrued interest paid on the Installment loan or fees paid on the Installment-Payday loan. Rebate shall be paid via bank account ACH credit upon full repayment of the loan, and is contingent upon a minimum of two installment payments made. Discount not valid for the CashNetUSA line of credit product. Promotions are not available in all states. Please see your state's Rates and Terms for additional details. Unless otherwise specified, promo codes must be entered at the time of application, can be used only once, and may not be combined with any other offers or Preferred Member benefits.

1Must be 21 years of age for Mississippi residence and 19 years of age for Alabama and Delaware residence.

Customer Notice: Payday advances should be used for short-term financial needs only, not as a long-term financial solution. Customers with credit difficulties should seek credit counseling.