Explore Payday Loan Options with Tailored Payment Plans

We try to make applying for a payday loan as easy as possible. That's why 1 Hour Fast Cash works with a range of lenders. We want you to find the right cash loan product for your needs. To do this, we match your criteria with different lenders and see who is the best fit. One area you'll want to look closely at are payment options for payday loans.

How Does a Payday Loan Work?

With many payday loans, you borrow the money with a promise to repay that money and a loan fee on the due date. That's a full payment loan. Everything is due at once, usually on a date 14 to 30 days after the day you sign the loan paperwork.

Is That the Only Payment Option for a Payday Loan?

There are other payment options that aren't always advertised. You usually have to ask the company if these other payment options are a possibility.

One is the early payment option. If you pay back the loan early, a handful of payday loan companies will reduce the fee to match the actual number of days you borrowed the money. For example, if you repay the loan after 15 days and you'd borrowed the money for 30 days, a company offering early payment will cut your loan fee in half.

Some payday loan companies offer installment or monthly payment plans. Instead of having to pay the total of the money borrowed and the fees, you break it up into manageable monthly payments. Say you borrow $500 and have $100 in loan fees. Instead of paying $600 at the end of the month, you break the payment up over a few months and pay $200 each month for 3 months or $100 a month for 6 months.

You have the payday loan in hand and realize you're not going to get all of the money in time. An extension only option allows you to pay a fee to get the due date extended. You'll pay more in fees, but you'll have extra time to come up with the rest of the money.

There's also an extension plus option that allows you to extend the due date if you pay an extra fee and repay some of the loan balance when it's extended. You might be asked to pay 20 percent of the original loan amount before the extension is allowed.

Shop Around to Get the Best Terms

You know how your finances look. Take time to shop around for the best deal. We take out the hassle by shopping around different payday loan companies for you. Once you have a list of lenders willing to work with you, you can talk to them about the best payment options for payday loans. Apply now.