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  A payday loan typically matures on the borrower's next payday, hence the name "payday loan." These loans are short-term loans that are intended to be repaid quickly, usually within two to four weeks, or on the borrower's next payday. The maturity date is the date by which the borrower is expected to repay the loan in full, including any applicable fees and interest charges. The borrower typically provides the lender with a post-dated check or authorizes an electronic debit from their bank account for the full loan amount plus fees on the maturity date. If the borrower is unable to repay the loan in full by the maturity date, they may have the option to roll over the loan for an additional fee or extend the repayment period, but this can result in additional charges and may lead to a cycle of debt. It's important for borrowers to carefully consider their ability to repay a payday loan on time before taking one out, as these loans often come with high interest rat...

  At the date of loan maturity in a payday loan, the borrower is typically required to repay the entire loan amount, along with any accrued interest and fees, to the lender. Here's what typically happens at the date of loan maturity: Repayment : The borrower must repay the loan in full, usually by providing the lender with a post-dated check for the total amount due or authorizing an electronic withdrawal from their bank account on the loan maturity date. Some lenders may require borrowers to repay the loan in person at a physical location. Loan Extension (Rolling Over) : If the borrower is unable to repay the loan in full on the maturity date, they may have the option to extend the loan term by paying an additional fee. This is often referred to as "rolling over" the loan. However, rolling over a payday loan can lead to additional fees and increased interest costs, making it more difficult for the borrower to repay the loan. Penalties for Non-Payment : If the borrower fa...