After I pay off my payday loan, can I get another payday loan?

An additional payday loan can be applied for immediately as long as all the requirements are still met and there are no outstanding payday loans from other lenders. The only exception would be if state laws demand a borrower wait a certain period before applying for another payday loan. Lenders that abide by the laws of the state will enforce this waiting period. Afterward, you are free to apply for another payday loan.

If you need to wait before taking out another loan, take the time to consider why this restriction is in place. A payday loan is meant to be an occasional, short-term financial solution. While the option is available to have two consecutive payday loans, it’s important to understand the purpose of payday loans and to use them responsibly. If you find yourself needing regular payday loans in order to make ends meet, it may be time to seek serious, long-term financial help. It’s up to you as the borrower to determine when your situation is in need of professional assistance. Check ‘n Go offers a cash management page to help along the way and additional financial resources that provide tips for smart budgeting.