Getting an extended repayment plan makes it possible to get out of a payday loan. Most lenders can offer an extended period to allow customers more time to get the money they need to repay their loans.
Another way of getting out of a payday loan is by obtaining another affordable loan and using it to repay the existing debt.
Considering bankruptcy is also a way to get out of a loan. If the payday loans online lender does not allow a repayment plan and you cannot get a new loan, you will have no other option apart from declaring you are bankrupt. Bankruptcy allows customers to discharge eligible payments. So, the debt will not be collectible anymore.