This Article is About
loan consolidators
payday loan consolidation
debt consolidation companies
bad apples
credit card debt
matter what type
debtors
amount of money
bubbles
many things
Straight Talk About Loan Consolidators
Join 1000's of Authors at StreetArticles Today!

Straight Talk About Loan Consolidators

There is a lot of talk about loans and debtors in modern discourse mainly because so many people are plagued with these problems. Loans were easy to get for many years, which caused a number of problems when bubbles started to burst. Now, people are starting to realize that they may have bought too many things with cheap credit. Many people in the United States are loaded with debt that they can’t get rid of without the help of professional consolidators. No matter what type of debt people are in, there are different types of consolidators who can help your particular situation.

In the case of credit cards, there are companies that have contacts with all of these large lenders. These contacts are used by lenders to determine some kind of agreement where the consolidator assumes the debt for a certain amount of money. Usually the amount is much lower than the outstanding loan, which is somewhat of a loss to the credit card companies, but getting any money is worth it for them.

There are other types of loan consolidators as well, but it is important that debtors find a reputable one that is not just going to use their power to make money for themselves. Larger debt consolidation companies start to become monsters in themselves and tend to hold onto client money too long before resolving the debt. They assume the large debts of other lenders and then try to increase the percentage of payment that comes back to them. This is legal, but as one may imagine is not ideal for the person who is trying to get out of debt. Most debt consolidators are not like this on the larger scale, but there are a few bad apples that can ruin the entire industry for the rest of the companies that actually help people every day.

Additionally, loan consolidators are deep in the payday loan scene as well not just credit card debt. In fact, most of the consolidation of loans that goes on in the United States is tailored for smaller loans rather than larger ones. Payday loan consolidation is a part of the economy that may seem mundane, but it is actually very positive. Millions of Americans need help with payday loan debts and they can only turn to consolidators who have the contacts with small lenders to get the loans reduced. These people feed their families, but for the most part they are there to help others survive.


Street Talk

S. Gray  

Wonderful advice for those who find themselves in this awkward situation.

Reply
  about 9 years ago

I really appreciate that Sonya. We do what we say we will do for clients and work very hard to do it ;)

Reply
  about 9 years ago

Very valid and useful advice David. there are some real sharks out there that are more than happy to add to a persons problems.

Reply
  about 1 decade ago

So sand and so true. Too many too count.

Reply
  about 1 decade ago
You May Also Like
Help to Consolidate Payday Loans
If you are looking for a way out of your payday loan problem there are two distinct ways. First of all, you can do what many Americans do, which is to declare bankruptcy and never have to worry about paying these payday loans again. This is a tedious process that…
By:  in  Finance  >  Debt Consolidation   Apr 29, 2013  
6
  Likes: 6

Payday Loan Consolidation Scams
With the increase of people using payday loan companies as a short term solution for a financial emergency – more and more people are getting caught in what is known as the payday loan trap. And the trap is having too many loans. People get more than one loan –…
By: Leo E in  Finance  >  Debt Consolidation   Dec 02, 2012  
1
  Likes: 0

Post Holiday Financial Blues And How To Beat Them
Many people get desperate during the holiday season and take risks they would otherwise not find themselves taking. It could be the pressure of not enough money to cover gifts for our children, or the pressure of having to go to family gatherings without any presents to give Now they…
By: Shawn Lee  in  Finance  >  Debt Consolidation   Feb 28, 2013  
12
  Likes: 13

Payday Loan Consolidation Becomes Enemy Of Small Banks
It is no surprise that many payday loan lenders love the recent explosion in popularity of their services. Many lenders have been able to make a huge profit over the course of the last few years because there are so many people who need short-term money. More importantly, the number…
By:  in  Finance  >  Debt Consolidation   Jul 14, 2012  
5
  Likes: 5

Payday Loan Consolidation Assistance
For many people, payday loan consolidation assistance is an option. Various loans and resources are available and can help you to stop the payday loan cycle for good. What to Look For Before you select any consolidation loan for your payday loan debt, keep in mind that all lenders are…
By: Leo E in  Finance  >  Debt Consolidation   Jan 24, 2013  
0
  Likes: 0

I Am Drowning In Payday Loans
A former colleague of mine was in the financial industry after the collapse of the economy in 2008. He was doing great until that year, but I never realized how far he had fallen until we spoke over the phone. He told me “I am drowning in payday loans” and…
By:  in  Finance  >  Debt Management   Aug 15, 2013  
6
  Likes: 6

I Have Too Many Payday Loans And Need Help
A good friend of mine spoke with me a few nights ago and told me “I have too many payday loans and need help.” At first I was surprised that he had turned to payday loans in order to fill the gap on his bills, but I quickly realized he…
By:  in  Finance  >  Debt Consolidation   Nov 07, 2012  
19
  Likes: 11

Help With Bills for Low Income Starts Here!
Many people are feeling the crunch of the economy, and many people are experiencing the need for quick cash. Unfortunately, this leads to risky choices that can land you deeply in debt. The good news is help with bills for low income starts here! What does that mean? What it…
By: Shawn Lee  in  Finance  >  Debt Relief   May 10, 2013  
2
  Likes: 0

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…
By: Shawn Lee  in  Finance  >  Debt Consolidation   Feb 05, 2013  
6
  Likes: 8

Payday Loan Quick Sand, Are You Sinking?
Sometimes all a person needs to do is ask a question and things all of a sudden become crystal clear. I started answering the phone at my business, this way. "Payday loan quicksand, are you sinking?" and people would respond yes! help! ( I own a payday loan consolidation website)…
By: Shawn Lee  in  Finance  >  PayDay Loans   Mar 11, 2013  
7
  Likes: 7

How Does Payday Loan Debt Consolidation Work?
Payday loan consolidation is a type of program that can help you to repay your debt over a longer period of time - instead of having to make a payment every few weeks. Consolidation is a term that often refers to the process of using a program designed to help…
By: Leo E in  Finance  >  Debt Consolidation   Dec 02, 2012  
1
  Likes: 0

Surviving Tough Economic Times
Since the beginning of the recession in the United States, many families have had a difficult time surviving. Many jobs have been lost over a wide range of industries, which is causing families to have to find new ways to cut costs and pay for the things that they need.…
By:  in  Finance  >  Debt Consolidation   Jul 03, 2012  
9
  Likes: 6

Illegal Payday Loans In Mississippi? Just the Opposite, Legal And Dangerous!
I read the following in a forum the other day a bit of advice a member was giving another member who had massive payday loan debt in Mississippi: "Illegal payday loans in Mississippi are ripping everybody off, and you do not have to pay them! Lets back up the buss…
By: Shawn Lee  in  Finance  >  PayDay Loans   Nov 15, 2012  
0
  Likes: 2

Maine's State Payday Loan Laws, Are Payday Loans Illegal?
I received an e mail yesterday wondering about Maines payday loan laws. The person wanted to know if they were illegal, and the answer is yes and no. While payday loans are illegal in the state of Maine, they may operate under the supervised lender law. Yes, they found a…
By: Shawn Lee  in  Finance  >  PayDay Loans   Nov 10, 2012  
0
  Likes: 1

Speaking Out Feels Good!
I have found that just letting myself get fired up over a cause is not enough. I have to get loud because speaking out feels good! When faced with an injustice like I see daily working in the payday loan consolidation business, I just have to take a step back…
By: Shawn Lee  in  Finance  >  PayDay Loans   Apr 29, 2013  
8
  Likes: 6

Article Views: 2498    Report this Article