A short-term loan already has a due date, but the amount due can compete with rent, utilities, groceries, and other bills that arrive around the same time. The first task is to put the loan on the same calendar as the rest of the household’s money. As of November 22, 2025, the Consumer Financial Protection Bureau (CFPB) advises borrowers who cannot repay a payday loan on time to contact the lender right away and ask about an extended repayment plan.

Close-up of a paper calendar and folded papers on a kitchen table in soft daylight, with a pencil resting across the dates.
A bill calendar can show the loan due date alongside income deposits and regular expenses.

Start with the loan agreement, not a guess based on the amount borrowed. Write down the payoff amount, due date, fee, and annual percentage rate (APR). The APR is a standard way to express borrowing costs and can help when comparing repayment arrangements. Keep the paperwork or a clear record of the terms where it is easy to check.

Then put that due date beside the dates money is expected to arrive and other bills are scheduled. A payment that looks manageable as a monthly total may still be difficult if it falls before a paycheck or benefit deposit. A calendar does not create more money, but it can reveal a timing gap early enough to ask questions.

The CFPB’s payday loan cost guidance gives a useful example: at a typical fee of $15 per $100 borrowed, a $300 payday loan would require $345 in a couple of weeks. The actual terms of an existing loan may differ, so use the amount in the agreement rather than the example.

Start with the full amount due

Separate the money already borrowed from the total required to close out the loan. The fee is part of the cost, but the principal may still be due too. Make a short record of the payoff amount, the date it must be paid, and the APR. If the agreement mentions a renewal, rollover, or extension, write down what that option would require and when it would take effect.

Paying only a fee to extend a loan can leave the original balance unpaid. In the CFPB’s $300 example, a $45 fee paid to extend the loan still leaves $345 due at the end of the extension. That means $90 in fees to borrow $300 for one month. Renewal rules vary, and some states prohibit or limit renewals. The loan agreement and state rules matter, so avoid assuming an extension is available or that it reduces the balance.

Ask for the total cost of any proposed change, not just the next payment amount. The CFPB explains that an extended repayment plan, when available, can spread repayment into smaller installments over a longer period. Availability depends on state law or the lender’s policy. Ask whether a fee applies, how many payments there would be, and the total amount paid under the new schedule. The CFPB’s guidance for borrowers who cannot repay recommends contacting the lender promptly.

Build the bill calendar from real cash flow

A workable calendar starts with the money that actually comes in. Count income from each job and other sources, including self-employment earnings, child support, and government benefits. Note the amount and expected arrival date for each source. If income varies, a list of recent deposits can make the timing and range clearer than relying on one unusually high month.

Next, record expenses by date and category. Housing, utilities, groceries, transportation, and eating out are examples of categories in the CFPB’s budgeting guidance. Include bills that do not arrive every month, such as periodic fees or car expenses, if they are relevant to the period being planned. If rebuilding a full month feels like too much, the CFPB suggests beginning with one week of spending and adding more as the record develops.

Compare the loan payment with the money left after essential bills and other scheduled expenses. This is a way to identify a shortfall, not a guarantee that a payment will fit. If the calendar shows that rent or another necessary bill would be at risk, that is a reason to raise the issue with the lender before the due date and ask what options exist. The CFPB’s available budgeting guidance does not provide a universal formula for deciding how much repayment is affordable.

Confirm how payment will be taken

Payday loan repayment may involve a personal check provided when the loan was made or authorization for an electronic withdrawal, often called ACH. The lender may cash the check or withdraw funds on the due date if the loan is not repaid. The CFPB explains these common arrangements in its page on how payday loan repayment works.

Ask the lender for the exact withdrawal amount and date, and ask how the payment is set up. Some payment arrangements assume the borrower will pay a renewal fee rather than the full balance. Paying off the full loan may require action several days before the due date. A written answer can help prevent confusion about whether a scheduled withdrawal covers the payoff or only a fee.

The available CFPB materials do not specify the late or nonsufficient-funds fees for a particular loan, or explain every step for stopping an electronic payment. Check the loan terms and ask the lender and account provider about those details. Do not assume an account has enough available funds just because a deposit is expected that day; the timing of deposits and withdrawals can differ.

Ask early, then compare the tradeoffs

If the calendar shows the full payment will not fit, contact the lender before the due date. Ask whether an extended repayment plan is available and request the payment dates, installment amounts, fees, and total cost in writing. Compare that schedule with any option that would collect a fee while leaving the balance due later. A smaller immediate payment can still cost more overall if it extends the borrowing period.

Keep a record of the conversation, including the date, the person or department contacted, and the terms discussed. If the answer is unclear, ask for clarification before agreeing to a change. State rules differ, and the CFPB sources do not provide a state-by-state list of renewal limits. The CFPB payday loan resource page provides further background, including questions to consider about loan terms.

Find support if the payment remains out of reach

If repayment still appears unworkable, the CFPB suggests asking whether a credit counselor in the area or a legal aid attorney may be able to help. The cited materials do not explain how to find these services or what they may cost, so ask about qualifications and fees before sharing information or signing an agreement. Servicemembers can also contact a local Judge Advocate General’s office or an installation financial readiness office about available guidance.

Be cautious of a company promising to erase debt for “pennies on the dollar” before reviewing the situation, charging fees without meaningful work, or leaving a person further in debt. The Federal Trade Commission describes these warning signs in its article about getting out of debt, which focuses on tax debt. For a future emergency, alternatives such as employer or community assistance, nonprofit help, or support from family may be worth checking before taking on another loan. If income rises or a tax refund arrives, setting aside some of it may help build a cushion, though the amount and timing depend on the household’s circumstances.

Please seek a professional. This article is general information, not financial, tax or insurance advice. Please seek a licensed financial, tax or insurance professional about your own situation.