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Accessed January 27, 2016. https:www. consumerfinance. govaskcfpb1567what-payday-loan. html What does it mean to renew or roll over a payday loan. Consumer Financial Protection Bureau. January 13, 2016.
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You are urged to read and understand the terms of any loan offered by any lender, whether tribal or state-licensed, and to reject any particular loan offer that you cannot afford to repay or that includes terms that are not acceptable to you. Late Payments Hurt Your Credit Score. Please be aware that missing a payment or making a late payment can negatively impact your credit score. To protect yourself and your credit history, make sure you only accept loan terms that you can afford to repay.