While it would look like a quick fix, a payday loan has a lot of charges. Your lender could call-in” your mortgage, that means ship you a discover stating you will have 30 days to repay the loan. And you'll pay a one-time charge for the money advance, usually 2% to five% of the amount borrowed. Every time you lengthen (rollover) a loan, a payday lender charges further fees, growing your out-of-pocket costs for borrowing the cash.