What does it mean to renew or roll over a payday loan?

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Stuart Rolfson asked a question: What does it mean to renew or roll over a payday loan?
Asked By: Stuart Rolfson
Date created: Thu, Feb 18, 2021 6:09 PM
Date updated: Sat, Jul 9, 2022 5:24 AM

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Top best answers to the question «What does it mean to renew or roll over a payday loan»

Generally, renewing or rolling over a payday loan means you pay a fee to delay paying back the loan. This fee does not reduce the amount you owe… Some payday lenders give borrowers the option to renew or rollover their loans if they cannot afford to pay off the loan when it's due.

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