Balance
Principal, existing fees and other amounts separately
Prevents discussing an incomplete figure
Plan your next step when a loan payment will not fit
Start with the bill that is due and the money you can realistically spare after essentials. Prepare a clear repayment conversation before promising another payment or paying a fee that leaves the balance unchanged.
Bottom Dollar Payday is not the lender. This page helps prepare and compare decisions; it does not submit an application or access accounts or application records.
Due date
Exact contractual date and pending payment method
Identifies the immediate deadline
Hardship
Brief factual description and expected duration
Explains the change without overpromising
Prepare a payment amount for the conversation
Use the same period for income and expenses, such as one payday to the next. Do not include this debt again under other debt payments.
Method, privacy and limits
Room = take-home income − essentials − other debt payments − protected cash, floored at zero. With positive room, periods = balance divided by room, rounded up; the last payment covers only the remainder. Any preexisting shortfall is shown separately. Future interest, fees, taxes and state plan rules are not modeled. No proposal is sent to the creditor and no input is stored.
Choose the problem that needs attention
The due date is approaching
Contact the creditor through a verified channel and ask about available hardship or repayment options. Be specific about the due date, current balance and amount you could manage. Keep a record of the response.
You have already missed a payment
Ask for an itemized current balance and the status of collection or servicing. Do not assume the old balance is still the amount needed to resolve the account. Verify the recipient before paying.
The bank withdrawal would leave essentials unpaid
Address the payment authorization with the creditor and bank separately from asking for a repayment arrangement. A bank stop-payment action does not itself change the debt or extend its due date. [F12]
Build the facts before negotiating
CFPB recommends contacting a payday lender about an extended repayment option when repayment is difficult; availability, timing and charges can depend on the lender and state. Do not assume a free extension or a particular schedule has already been granted. [F10]
| Information | Ask or record | Why it changes the conversation |
|---|---|---|
| Balance | Principal, existing fees and other amounts separately | Prevents discussing an incomplete figure |
| Due date | Exact contractual date and pending payment method | Identifies the immediate deadline |
| Hardship | Brief factual description and expected duration | Explains the change without overpromising |
| Available room | Money after essentials and other commitments | Grounds the proposal in a budget |
| Response | Written terms, conditions and next contact | Separates a request from an agreed plan |
Use the worksheet as a ceiling to review, not a promise
The example has $1,000 take-home income, $750 essentials, $100 other debt payments and a $50 buffer. It leaves $100 per period. A $450 balance would take five periods at that capacity with a $50 final payment only if no new interest or fees are added.
If those inputs are unstable, use a more conservative proposal. The tool cannot know every expense or decide which legal protections apply. It does not send the result to anyone.
Compare the actual repayment arrangement
Ask for all conditions before agreeing. A lower immediate payment is not enough to understand the outcome.
| Term to compare | Question | Do not substitute |
|---|---|---|
| New payment schedule | What amounts and dates are agreed? | An informal “pay what you can” message |
| Future charges | Will interest or fees continue, and how much? | A no-fee calculator example |
| Balance reduction | How is each payment applied? | Assuming every payment reduces principal |
| Existing authorization | Will scheduled withdrawals change? | Assuming a phone discussion stops a debit |
| Missed-plan payment | What happens if a payment is missed? | A promise that consequences disappear |
Recognize an extension that does not solve the balance
A rollover or renewal can involve another fee while the borrowed principal remains due. Ask how much of a payment actually reduces the balance, and compare total cost through the new end date. Do not label a fee-only extension as debt repayment. [F14]
Borrowing again to cover the earlier loan may also leave another payment obligation. Revisit assistance, a biller arrangement and the overall budget rather than assuming a new advance solves the underlying gap.
Use support without turning it into another sale
A qualified credit counselor or appropriate legal-aid service can help review the full situation. CFPB’s repayment-help guidance provides starting points, including support for servicemembers. Use official contact information and ask about the service’s fees and scope before providing records. [F10]
If you dispute the amount or recipient, keep the dispute and evidence organized. This page does not resolve a legal dispute, stop collection activity or promise forgiveness.
Confirm the agreement and revisit the budget
Before relying on a change, obtain the actual agreement and confirm payment dates, amounts, future charges and withdrawal instructions. Recheck your budget for each period. Keep copies of payments and correspondence, and contact the responsible company promptly if the arrangement will not work. The next step here is support and preparation—not a new borrowing application.
Questions before continuing
Does the worksheet create a repayment plan?
No. It produces an illustrative amount and period count for a conversation. Only an actual agreement or applicable legal process changes the obligation.
What if the result is zero?
It means the entered budget has no remaining room after the protected items. Seek hardship support and review the full situation; the tool does not recommend promising an unaffordable amount.
Will a repayment request stop automatic withdrawals?
Not by itself. Ask the creditor and bank about the payment instructions and any separate authorization or stop-payment steps. [F12]
Related decisions
Continue with the relevant option
Sources and scope
Sources describe rules and resources; they do not endorse Bottom Dollar or certify listed businesses. Numerical examples are calculations, not offers.
