Your credit union
Ask about small-dollar loans, payment extensions, hardship options, and less expensive ways to bridge a real emergency.
PAYDAY LOANS · BEFORE YOU SIGN
The loan is short.
The consequences may not be.
A payday loan does not create more payday. It takes part of the next one before it arrives.
SEE THE WHOLE NUMBER
Ask these questions in writing.
- How much cash do I actually receive?Not the face amount—the money that reaches you after any fee withheld up front.
- How much must I repay?Principal, fees, membership charges, tips, expedited-transfer charges, and every required payment.
- When can they debit my account?Know the date, amount, authorization, and procedure for stopping future withdrawals.
- What happens if I cannot pay?Renewal, rollover, collections, returned-payment fees, and account consequences belong in the decision.
- What is the annual percentage rate?A short-term fee can look small until it is translated into the standard annual borrowing cost.
The biller
A due-date change or payment arrangement may cost far less than borrowing against the next paycheck.
Your bank account
Read every debit authorization and keep copies. Do not surrender online-bank credentials to a lender.
24K provides general financial education, not individualized legal, tax, credit, or investment advice. Payday-loan laws and available remedies vary. Verify current rules with official regulators or qualified assistance.