Quote:But that's not how payday loans work at all. They limit what you can borrow based upon your paycheck, so if you make $300 a week you can only borrow up to $300. To use your example if you needed $500 so long as you didn't have any other loans and you made at least $500 every paycheck they would lend you $500 but you write a check for $555 (it's a standard $50 for $500 at all of them the "state fee" ranges from $4-$5  at the 6 different companies I've used in the past) and on your next paycheck the entire $555 is due. There's no taking a month to pay it off, it's literally due on your next paycheck then you have to wait 24 hours to take out any other loans. The amount is restricted based on what your paycheck is obviously if you only make $300 a paycheck they won't loan you $500.

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enerally, it means you pay a fee to delay paying back the loan. This fee does not reduce the amount you owe. If you roll over the loan multiple times, it’s possible to pay several hundred dollars in fees and still owe the amount you borrowed. For example, if you roll over a $300 loan with a $45 fee three times before fully repaying the loan, you will pay four $45 fees, or $180, and you will still owe the $300. So, in that example, you would pay back a total of $480.
 
Some payday lenders give borrowers the option to roll over their loans if they cannot afford to make the payment when it’s due. However, many states limit or ban payday loan rollovers.