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What Happens if You Can't Pay Back Your Online Payday Loan?

What Happens if You Can't Pay Back Your Online Payday Loan? 

 

How to Avoid the Debt Cycle When You Can't Pay Back Your Payday Loan 

 

We get it, life happens. Sometimes you find yourself in a situation where you cannot pay back your payday loan or advance. Maybe you knew it would happen, or maybe it came out of the blue. Regardless, it can be a really tough and difficult situation. We are not here to judge. We are only here to help. We know that even good people sometimes miss a payment or two in life. That is why we try to make our loan process as easy as possible. That includes the repayment process as well. When you borrow from Net Pay Advance, we strive for the process to be as convenient as possible for you. 

Our best advice would be to pay off your loan as soon as possible. Regardless of where you lend, we recommend paying your debt back by the due date. Your loan is automatically set to be due on your next payday. This decreases your risk of not having the funds to cover it. If for some reason though, you are worried about not being able to payback your debt on-time, you will want to keep reading. We have some advice and possible solutions for you. Today we will look at the different reasons a person might not be able to pay back their loan. Let us find a solution to each type of problem. We will start simple and move on from there. 

 

How to Pay Back Your Net Pay Advance Loan 

Is the physical act of paying back the loan the issue? We strive to make the process easy. We have multiple ways for you to pay back your loan. You can contact us over phone, email, text, our website, or our app to payback your loan. We try to provide multiple channels so that you can choose the one that works best for you.

You can click here to access your account and make a payment.

Here are five other ways to contact us: 
Phone 
1-888-942-3360
Text
1-800-505-3539
Email
CustomerService@NetPayAdvance.com
Website 
www.NetPayAdvance.com
App
Apple Store
Google Play Store

If we have ruled that out as the issue, next we will look at the issue of not having enough cash to pay back your loan on time. 

 

Ways to Pay Back a Payday Loan On-Time Without Going Further into Debt  

We know that life happens, and we know that debt cycles are possible. They can be a slippery slope. At Net Pay Advance, we care about our customers. We try to provide customers with easy and free money resources and information. We share this information through the use of blogs and vlogs. Here are some ways to pay back a payday loan without going further into debt. 

If you find yourself with extra income, use it to pay off outstanding debt. You might receive a tax refund, stimulus check, work bonus, prize winning, or even inheritance. These are all types of extra income, separate from your usual paycheck. Use that money and focus on paying back anything with high interest or high personal investment. Use the money to pay down credit card debt, or a payday loan. Also, pay back loans from friends or family. These types of debts can be some of the most stressful. Paying them back first can help you feel more secure. Paying back some of these loans on time, may also help improve your credit. 

Look around your house for something to sell. You could sell it on eBay, Facebook Marketplace, or another seller app. For larger cash amounts, consider selling items worth more. You could sell furniture you no longer use or clothes you no longer wear. You might even be able to sell concert tickets. If you have old jewelry with no sentimental value, you could pawn that too. 

Donate plasma to do something good for others and for your wallet. The world needs more plasma donors. You could make $25 - $50 for your donation. Most donors are able to donate twice in the same week. You could make $50 - $100 in one week! It might not be enough to pay off a loan completely. However, if you were a few dollars short, this might be the solution. 

Sell your gift cards. You might not be able to pay off a loan with gift cards, but you can sell your gift cards for cash. This is great for gift cards you have sitting around or gift cards you never planned to use. You can use a service like CardCash.com. You can sell them your gift cards, and in exchange, they will pay you within two days. 

Ultimately, you could also work odd jobs. See if any of your neighbors or friends need help with any work. Offer to mow lawns, dog walk, pet sit, or baby sit. If you are physically fit, you could also try day labor. Sites like Labor Works or People Ready often have low-skill, low-pay jobs. You could work as a construction helper, mover, or warehouse worker for a day or two. You will get paid at the end of your shift.

We really cannot express how important it is to pay back your loan on time. There are a lot of benefits. For starters, paying back your loan on-time can keep expenses down. You can avoid potential late fees by making on-time payments. You can also access discounts on potential future loan fees. If you lend with us in the future, and have solid re-payment history with us, you could get discounts up to 25% off! We have more information on this topic here.

Cash might not be the issue. Maybe you recently did some work, and just have not gotten paid yet. It happens sometimes. What should you do if you just need a couple more days? 

 

Ways to Extend Your Payday Loan Due Date  

Need three more days to get the money you need? You can get a free, 3-day extension on your loan. You can do this by logging into your account. You could also call us if you would like. We can help you set it up.

What happens if 3 days is not enough time? 

 

What Happens if You Cannot Pay Back Your Loan Right Now? 

If you have followed all of the steps so far, and you are still unable to pay, you may still have options. For starters, pay down what you can. It makes the payment process a lot easier to pay what you can. Net Pay Advance offers payment plans for customers. To see if you qualify for a payment plan, contact us before your due date. If you are not on a payment plan by your due date, we can attempt to collect the full balance owed at any time. We can attempt to collect it without notice. Being on a payment plan guarantees that all collection efforts will seize as long as the payment plan is kept. Our Extended Payment Plans help keep your account out of Collections. 

Finally, if your account is past-due and does go to Collections, we can offer a free Promise-to-Pay (PTP) plan. It allows you to pay back the balance over a series of smaller amounts. Setting up a PTP means that Collection activity stops as long as the payment plan is kept.

 

We know that debt cycles happen, and we want to do everything in our power to help you. Working with us to pay back your loan has benefits. For starters, when you work with just one lender, you do not go further into debt. In addition, your information stays more secure. You do not have to send out your personal information to a bunch of other companies. You do not have to risk your information falling into the wrong hands.

Security and world-class customer service are two pillars that we have built our business on. For us, it is important that you know we are here for you in your time of need.

What is some of the best lending advice you have received? 

 
Monday, June 1, 2020
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    Customer Notice: Short-term advances should be used for short-term financial needs only, not as long-term financial solutions. Customers with credit difficulties should seek credit counseling.

    Short-term Loan 14-day APR Range: 391.07% - 664.29% APR varies per state regulations. View Rates and Terms to view the APR in your State. Failure to make timely payments may result in NSF or late fees. If your account becomes severely delinquent, it may be turned over to a 3rd party collection agency which could impact your credit score. Loans do not automatically renew without prior approval. If you renew or "rollover" your loan, your principal balance may not be reduced and you will owe additional fees and/or interest.

    Net Pay Advance, Inc. is licensed by the California Department of Business Oversight pursuant to the California Deferred Deposit Transaction Law.


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