Getting help to consolidate payday loans is a great option and one many people are not aware of. If you’re facing a situation where you’re paying your payday loans back only to re-loan them a second time or a third time, then it may be necessary to seek help for getting out of this vicious cycle.

Payday loans often start as a simple loan to handle a financial emergency. Then, when it is due in a few weeks and for whatever reason you cannot afford to pay for it. So you take out a second loan to pay out the first.

This goes on and on until you cannot get caught up any longer and the amount you owe is significantly higher than what you started with.

Getting help through a consolidation program can work for you. In fact, there are many benefits to turning to this method of getting out of the payday cycle, including the 5 following benefits:

1) You'll pay a lower interest rate on a consolidation than you will on the current debt you have. This means you pay less in fees to get the debt paid off.

2) You will not have to repay all of what you owe within two weeks, which most payday loans require. This gives you more time and makes repayment far easier to handle than what you are currently dealing with.

3) Consolidation means all of your debts to the various payday loan companies are paid off. This means no more collection calls from them and no more harassing remarks. You may not even have to deal with them again at all.

4) You only have to make one payment to one organization or lender every month. Instead of having to pay numerous companies what you owe and spending half of your payday running from place to place, you can go to just one location to get the debt paid off.

5) Consolidation makes repayment easy. By consolidating and creating that one payment you can afford, gone are the days of scrambling for money every paycheck.

No matter what you decide to do you still have to repay the debt you owe. However by using consolidation as your solution to get out of debt one of the great benefits is how it removes all the stress out of repayment.

If you're still on the fence about consolidating your payday loans also consider this, many people look at bankruptcy as an option. Using a great consolidation program from a reputable company means you can avoid having to file bankruptcy and keep your credit intact.