HomeGlossaryCCooling-Off PeriodGlossaryCooling-Off PeriodA mandated waiting time between payday loans, required by some states to stop borrowers from immediately taking a new loan to repay an old one.Browse: A · B · C · D · E · F · I · L · M · O · P · R · S · T · U · W · full glossaryMore glossary termsAPRAch WithdrawalBad CreditBalloon PaymentCAPSCash AdvanceCheck CashingConsumerConsumer AdvocateCredit CheckDebt TrapDefaultDeferred DepositExtensionFDICFaxlessFinance ChargeInstallment LoanInterestLate FeeLenderLoan SharkLoan TermMilitary Lending ActOrigination FeePaycheckPayday AdvancePayday Alternative LoanPayday LoanPost-Dated CheckPrincipalRolloverSubprime LendingTitle LoanUnsecured LoanUsuryWage Garnishment