{"id":21432,"date":"2022-11-09T22:20:23","date_gmt":"2022-11-09T21:20:23","guid":{"rendered":"https:\/\/ecreditdaily.com\/?p=10022"},"modified":"2022-11-09T22:20:23","modified_gmt":"2022-11-09T21:20:23","slug":"roll-over-loan-2","status":"publish","type":"post","link":"https:\/\/businessfinancenews.com\/loans\/roll-over-loan-2\/","title":{"rendered":"roll over loan"},"content":{"rendered":"
First, read what the definition of payday loans is. Payday loans can be a quick solution to cash emergencies. These loans are only available for a short time and have high-interest rates. It is a given that many people struggle with loan repayments and installments. For such cases, however, the customer has the option to roll over. But what is a payday loan rollover?<\/p>\n
A borrower who isn\u2019t able to repay the payday loan in due time can request an extension from the lender. This is known as a payday loan rollover.<\/p>\n
The lender can give the go-ahead for the borrower to extend the repayment period. This gives him\/her more time to save money and budget.\u00a0Rollovers can result in higher interest rates and additional fees. This is because the lender takes high-risk lending money to borrowers and may extend the repayment period.<\/p>\n