<P> In the traditional retail model , borrowers visit a payday lending store and secure a small cash loan , with payment due in full at the borrower 's next paycheck . The borrower writes a postdated check to the lender in the full amount of the loan plus fees . On the maturity date , the borrower is expected to return to the store to repay the loan in person . If the borrower does not repay the loan in person , the lender may redeem the check . If the account is short on funds to cover the check , the borrower may now face a bounced check fee from their bank in addition to the costs of the loan , and the loan may incur additional fees or an increased interest rate ( or both ) as a result of the failure to pay . </P>
<P> In the traditional retail model , borrowers visit a payday lending store and secure a small cash loan , with payment due in full at the borrower 's next paycheck . The borrower writes a postdated check to the lender in the full amount of the loan plus fees . On the maturity date , the borrower is expected to return to the store to repay the loan in person . If the borrower does not repay the loan in person , the lender may redeem the check . If the account is short on funds to cover the check , the borrower may now face a bounced check fee from their bank in addition to the costs of the loan , and the loan may incur additional fees or an increased interest rate ( or both ) as a result of the failure to pay . </P>
when does a pay day loans typically mature
when does a pay day loans typically mature
at the borrower 's next paycheck
at the borrower 's next paycheck