This Article is About
payday loans
payday loan consolidation
overdraft fees
consolidation companies
acceptable time
bank balance
loan companies
time frame
quotes
money
Can You Consolidate Payday Loans?
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Can You Consolidate Payday Loans?

Many people end up in trouble with payday loan debt and are asking, can you consolidate payday loans? The answer is a big yes, and the sooner the better.

The main reason a person would want to consolidate these loans is because they are in default and or are stuck in one or more a long tern loans with incredibly high fees and interest payments. Many people are having the lenders calling them at home and at work, and bugging their references and even threatening legal action.

Pile on top of this having a negative bank balance and overdraft fees that many times are associated with these loans, and life can really become discouraging. I have had people crying and just not knowing which way to turn to relieve some of this pressure.

There is a way to deal with the loan debt and still fulfill your obligation with the loan companies at save some money at the same time. There are many payday loan consolidation companies out there that will be happy to help you consolidate your debt, and many times they get the interest lowered and in some cases waved.

These companies can take over your payday loan debt and work directly with the lenders, stopping all the harassing calls and legal action and set you up on low bi monthly or monthly payments. They truly are saviors when the going gets so tough you just want to quit.

As with anything, there are good companies and not so good companies. You want to find one that does not hold your money more than 2 weeks as many follow the industry standard of 4 to 6 weeks which accomplishes nothing for the person using these consolidation companies. Why wait 4 to 6 weeks to get these guys off your back, you want relief now!

Also look for companies who are prompt and respond to you within an acceptable time frame. Many will respond the same day. Also look for free quotes for their services. Never pay for a quote, or anything else up front, this is a sign of a not so favorable company. You will be looking for a company that will work with your lenders one on one and get the ball rolling quickly.

I hope this information helps you in picking a payday loan consolidation company that you can trust and one that can help you give your paycheck a bit of breathing room. I wish you all the best in your payday loan consolidation, and hope this article helps you find your solution.

Please feel free to share this article and leave any questions and comments below!


Street Talk

Another great source in finding out about some of these consolidation companies is from Robert Kiyosaki. This is where I learned about how ruthless these can be as well. This is a great article on the topic!

Reply
  about 7 years ago

Thanks Danial! They can be quite brutal!

Reply
  about 7 years ago
William6  

Good article Shawn..People need to be made aware of this matter.Sometimes Debt consolidation is the only smart way out. Thankfully I have never gone through the process. Others in my family have and it really made a difference in their lives.

Reply
  about 7 years ago

It sure can. Imagine getting calls at work! Man, I just could not work for a company that has those practices, just not my cup of tea. The consolidation companies can be a savior for many, and the reason I like ours is because we care about the clients.

Reply
  about 7 years ago

Hi Shawn How are you today? It is like I was on leave. I have come back and to say I like your article. I will be in touch. Thank you very much

Reply
  about 7 years ago

Hi Geoffrey! Glad to see you back!

Reply
  about 7 years ago
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