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Repayment Plans For Payday Loans
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Repayment Plans For Payday Loans

If you find yourself stuck in the payday loan trap that many people are finding themselves in today, there is a way to bring back that smile on your face and remove the fear of answering the phone thinking it is the loan company again, and it is a simple as exploring repayment plans for payday loans.

What are they?

They are simply plans payday loan debt consolidation companies come up with for negotiating with the payday lenders to pay back your payday loan debt.

There are many different companies out there and most of them do help you pay off your loans but some are much better than others.

What is the difference between companies?

Most companies will hold your payments up to 3 months before they start sending them on to the lender. This does little to stop the harassing phone calls and most lenders do not want to wait up to 3 months for the payments to come in, thus they will continue calling and continue the collection process.

Rest assured there are companies that do not do this, work directly with your lenders one on one, send cease and desist letters to stop the calls and collection, and get your payments to the lender as soon as they are received This tells the lender they are serious about getting this debt cleared up and makes them much easier to work with.

Will this stop me from getting sued?

Quick action on the consolidation companies part by contacting your lenders as soon as you sign up, many times within a couple hours, tells the lender you mean business, and they can in many cases stop legal action and give you a chance to pay up. Really, they just want their money and they will go away. They can still proceed with legal action, but most will back off.

How do I find these good companies?

Finding the right company to work with and trust is imperative to get quick results, and checking out the companies website is probably the best way to find out how they conduct business. read all the information you can before you make a decision, and make sure you are clear on their practices before you send any payments or sign anything.

Coming up with a payday loan repayment plan that will get the job done and get it done fast is the goal, and with a bit of research you can find the right one to get you back on track and clear up that paycheck for more important things!

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


Street Talk

Very helpful column, I can see how payday loans can help with a repayment plan

Reply
  about 9 years ago

Thanks Sheri

Reply
  about 9 years ago

lots of good info, Shawn

Reply
  about 9 years ago

Thanks Sharon, a service that is needed for sure!

Reply
  about 9 years ago

Excellent article and broken down very well. Main point never go with a company who can't resolve your accounts immediately and holds onto client money.

Reply
  about 9 years ago

Amen!

Reply
  about 9 years ago

Great article Shawn, we don't have any payday loan companies in the Bahamas.

Reply
  about 9 years ago

Do I see a new industry? lol

Reply
  about 9 years ago

Good article. Getting the right one to help put a payday loan repayment plan in place makes sense when you've got a stable income coming in. Sometimes too many emergencies in a row may mean you need to go for bankruptcy to get a restart. That's what I did! Last chance for medical bankruptcy was December 2011 in the USA so I chose that route myself. It cleared by March 7th because I got the judge known for liking documentation -- and documentation in my case was the most thorough he'd ever seen. That's the compliment I got from him. I got to keep my car, my remaining belongings and even my company. It took many miracles for me to have lived through these past few years, so I've got lots of ways of helping people. And I can certainly empathize because I've been there and lived through that in so many ways.

Reply
  about 9 years ago

I know what it is like to have all you need and then some, and nothing, lol. You are so right!

Reply
  about 9 years ago

Funny thing is, while I've had a six figure income (even cracked 2 and 3) I have the joy and contentment now that I never could have even imagined then. Anyways, I'm releasing my stuff now online and also hearing from folks about jobs today. I suspect that an opportunity to interact with lots of people in "normal" situations with plenty of others who would call 911 in an emergency will give me some good healing experiences. So even once I get my six figure income back I'm thinking it'll be fun to have a job interacting with people. Not permanently but for a good long while! Therapeutically.

  
  about 9 years ago
S. Gray  

Thanks, Shawn, great ideas!

Reply
  about 9 years ago

Many more to come.

Reply
  about 9 years ago

Thanks, Shawn.

Reply
  about 9 years ago

Thanks for reading Jerry!

Reply
  about 9 years ago

Nice article Shawn. Hope this info helps out these people.

Reply
  about 9 years ago

It can, if they use it. :)

Reply
  about 9 years ago
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