If your car breaks down a week before payday and will cost $2,000 to fix, what are your options? For many Americans, a quick payday loan may seem like their only option. It appears simple: write a post-dated check for the loan, add the lender’s fee and you have a two-week loan to pay for the repairs. But what happens when you can’t pay it back at the end of the two weeks? Amber Mostyn breaks down what you need to know before taking out a payday loan: