How Many Payday Loans Can You Have At Once?

If you need an instant payment of money on the same day or no later than the next working day, and you do not have a good credit result, it is best to use payday loans. A lot of lenders are very flexible in this case because some of you will not even require sending documents by fax or checking credit.

All they will mention to you is the deadline within which you must repay the borrowed money. Unfortunately, sometimes financial needs cannot be met by a single payday loan. Then you will be tempted to take more payday loans. That is why a large number of people are interested in the restrictions of taking this type of loan. We will give you an answer on how many payday loans at once you can have in theory.

Payday loans


This type of loan is used as a means of payment until the next salary or in some similar situation. Its customers try to bridge the gap in this way, and payday loans offer a quick and easy solution for emergencies. In this way, you will be able to access the funds in a very short period of time, and you will receive a payment on the same day. You will generally be able to borrow up to $ 1,000, sometimes more, and will have to pay a fee that is determined by the figure. Depending on the law of the country in which you live, you can get them in different places.

Rules for taking payday loans

The first rule refers to the check performed by the lender. Your income, living expenses, and main financial obligations can be checked. However, unlike installment loans which are also often unsecured and don’t require collateral but a credit check is required, for a payday loan in 99% of cases no credit check is required. If you are confusing installment loans and payday loans, visit and read the blog dedicated to that topic. There is also a rule regarding taking a loan again. Generally, you will have to pay a certain amount before taking another.

Otherwise, you could be prevented from borrowing again. When it comes to limiting the number of loans, there is a rule about that as well. For example, if you were to take three loans, you would have to repay them within a month. Of course, you will have to prove your ability to fulfill your part of the contract. We must emphasize that some lenders also offer alternative options such as prepayment programs.

Can I take more payday loans?


While the law will not stop you from doing so, there is no guarantee that you will actually be able to do this. Lenders may be quite relaxed when it comes to the payment deadline, but they have their own standards that you will have to adhere to. For example, if you have several outstanding loans, they will recognize you as not a good enough candidate for further loans. Either way, most lenders will actually only allow you one payday loan. However, somewhere you will be able to take a payday loan from different lenders which mean more money for you.

What happens if I can’t repay my payday loan?

Different situations force people to apply for this loan. This means that some people are not sure that they will be able to repay their debt, but they urgently need money. However, this approach will only exacerbate the problem. First of all, it’s not nice. Lenders will not tolerate irresponsible behavior and may therefore ruin your credit score. In addition, they can accumulate overdraft fees or even take you to court.

In any case, the consequences are very harmful to you. This situation usually occurs if you take too many loans that are difficult to manage. So if you are not capable of something like this, do not take more loans than explore all the alternatives that exist. If your lender approves this, consider whether you can repay all the loans at once.

Alternatives to getting extra money


Of course, if you can’t take payday loans as much as you really need, there are a few more ways to raise money. One of them is the use of savings or borrowing money from acquaintances. For example, if you have any savings such as fixed deposits or points, it is better to opt for them. This way you will be calm because you will not have to return the money. You can also ask for some more money from friends or relatives, we are sure it will give you a longer period of time. In addition to this, you can sell items that you no longer need and only collect dust in your house. Not only will you earn extra money but you will clean up your house and get rid of old things.

In that case, you can take the old things out in front of the house and sell them in your area or simply publish them online. These can be items that are not of much use to you or others such as old toys, bicycles, etc. Reducing costs is another opportunity to raise some extra money. You can do this by making a list of things you normally buy in a month for parties, treats, and similar things. We will agree that these are unnecessary expenses, which means that you can do without them. You can always seek expert advice when it comes to debts.

This behavior is actually desirable if you have a problem with financial management. There are plenty of online consultants who provide great services. They will provide you with useful ways and solutions that you have at your disposal, which you may not even be aware of. Don’t forget to check local resources, and that would be help from local organizations. This applies to local charities, government credit agencies, etc. In the end, you can always take a part-time job. Although you will not receive cash immediately, you can save later. For example, digital marketing can bring you a lot of money. Sign up for one of the services and see for yourself.


Thus, payday loans exist as a short-term form of financing. It is not intended for those who need money for a large debt and plans to repay it for years. In that case, look for another type of loan. If you want to get cash right away, try to get a payday loan from several lenders. Of course, first, make sure that you will be able to repay all the debts in such a short time.