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Payday Loan Debt Consolidation Assistance – Where To Find It
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Payday Loan Debt Consolidation Assistance – Where to Find it

Some days I don’t have enough hours in the day to answer all the calls and emails I get from people desperate to get out of their payday loan trap.

Did you know that over 12 million people per year in the United States get a payday loan and they end up staying in debt with their payday loans on average for 5 months of the year, that’s a total of 7.4 billion dollars of very expensive debt.

Getting these loans is easy – paying them of is not.

Think about it, if you were short on cash and you got a payday loan sure you may have solved an immediate problem.

But it two weeks’ time when you loan is due that lender is going to take your most if not all of your pay check to pay back the loan, leaving you short for your everyday expenses.

So you have to re-borrow just to survive, that’s why paying these loans off can take months – and that’s what the lender wants – they make money off of you because they know most people cannot pay the loans off.

So people either re-borrow or roll the loan over to get a two week extension and they do this by paying just the interest and a small fee.

Most people need another outside source to payoff these payday loans in full.

Some of the options are:

- Getting help from friends or family

- Selling or pawing possessions

- A tax refund

- Or getting another type of loan (not payday)

Most people have exhausted the first three options – and there are not many options when it comes to getting another type of traditional loan, like from a bank or credit union.

So What Can You Do?

There is one way that many people are not aware of – it is a payday loan consolidation program. This not a government program – it is a program offered by companies battling in your favor to get you out of your payday loan debt once and for all.

How It Works

The program is very simply but very powerful.

1) It is not a loan, so you are not incurring new debt to get rid of old debt.

2) Everyone is eligible for this program – credit and/or collateral not a factor.

3) Once in the program the consolidation company takes over your debt. Doing this force’s the lenders to deal with them.

4) The consolidation company will get all the fees and interest stopped on all of your loans.

5) They will re-negotiate a new payment plan. Depending on the total amount of loans you have this repayment plan will be for 6, 12 or 18 months. The new payments will be far lower per month than what you are paying for all of your loans.

6) If needed they can stop any collection calls you may be getting from these lenders.

7) Once everything is in place you now pay the consolidation company and they will then pay your lenders.

8) You can be in this program and on your road to being debt free in as little as 2 hours.

A payday loan debt consolidation program from a legitimate consolidation company is the easiest and most effect method for you to end the debt you are in with payday loans.

I just more and more people knew about it. Help spread the word and share this article.

Street Talk

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