According to a 2016 research conducted by the Center for Financial Services Innovation, consumers spent $6.1 billion dollars on loan installments. Payday loan consolidation companies experience high demand all year round. Despite the government’s efforts to regulate creditors, you may come across seedy online-based payday loan consolidation companies. Fortunately, you can count on our review to guide you to legitimate payday loan consolidation companies in or near your city. If you’ve never used a payday loan consolidation company, pay attention to the accredited companies listed below.
1. Freedom Debt Relief
If you reside in Portland, OR, you can visit Freedom Debt Relief offices between 9Am-5PM. The website has a free monthly installment calculator. All you have to do is enter the outstanding loan amount, the number of months past payment deadline, and current city. After submitting your details, you’ll receive a detailed report in your email. Freedom Debt Relief is a certified member of the American Fair Credit Council. This organization exists to ensure credit defaulters receive genuine debt consolidation services. In order to ensure that debt consolidation officers don’t extort clients by charging exorbitant interest rates, the AFCC lobbies for consumer-friendly laws. Freedom Debt Relief has an impressive rating of A+. We determined it’s rating criteria based on the duration a business has operated, complaints filed against it by unsatisfied customers, and transparent business practices. A business that has an A+ rating has attained a minimum score of 97 points out of 100.
2. Consolidated Credit Counseling Services
Consolidated Credit Counseling Services is a Fort Lauderdale-based debt consolidation company that has a rating of A+. Its consistency in offering genuine and transparent payday consolidation plans has attracted the attention of CNN, MSNBC, USA Today, and Forbes. In order to help you compare prices, the Consolidated Credit Counseling Services’ website has a free debt analyzer tool. The good news is you don’t need to sign up in order to use the online debt analyzer. One characteristic of legitimate payday loan consolidation companies is long existence in the credit industry. Consolidated Credit Counseling Services officially began its operations in 1998. Since it’s opening, Consolidated Credit Counseling Services has helped more than five million loan defaulters restore their finances on the right track. In addition to getting out of debt fast, clients also receive professional help on how to restore their credit score. This is important since most loan defaulters who’ve ever used debt consolidation plans experience challenges when applying for mortgages or business loans.
3. Accredited Debt Relief
Accredited Debt Relief has helped over 100,000 debt-stricken clients pay off their outstanding payday loans since 2008. You won’t pay any consultation fees when attending appointments with your assigned financial manager. Moreover, clients don’t pay any application fee in order to qualify for the payday loan consolidation program. Just like Consolidated Credit Counseling Services, you’re entitled to use the free online debt analyzer tool. You’ll also come across reviews posted by previous customers on Trustpilot. In case you’ve never heard about Trustpilot, it’s a website that serves the same purpose as. Currently, Accredited Debt Relief has a 5-star rating on Trustpilot based on the reviews of at least 700 clients. In terms of credibility, Accredited Debt Relief is a certified member of the American Fair Credit Council. This assures you of paying interest rates that are within the industry’s recommended range. You can visit their offices located in San Diego, CA.
4. Lending Club
Lending Club offers debt consolidation loans ranging from $1,000-$40,000 dollars. It’s based in San Francisco, California and operates on a peer-to-peer lending model. If you have friends who are investors in Lending Club, you’ll get positive recommendations that significantly boost your chances of getting a payday debt consolidation loan. Lending Club has a strict vetting policy during the debt consolidation loan application process. All applicants need a minimum credit score of 660. The seemingly informal nature of the peer-to-peer lending network requires tighter security measures to minimize the default risk. Unlike other free debt analyzer tools, Lending Club requires applicants to first submit their names and address in order to receive loan repayment plans. It takes approximately seven days for Lending Club to deposit the debt consolidation loan into your bank account. Lending Club stands out because it has the highest ratings compared to other online-based credit and debt consolidation companies.
5. National Debt Relief
National Debt Relief began offering debt consolidation services in 2009. All visitors receive a free ebook that contains information on how to choose a good payday loan consolidation company. Other topics include the benefits and limitations of widespread debt consolidation options. National Debt Relief has a toll free number that enables potential clients to seek professional advice from certified debt counselors. Despite its relatively young age in the credit industry, National Debt Relief has an impressive A+ rating on. It also has a high rating on Trustpilot contributed by 3,000 customers. One of their strongest areas is a high success rate when it comes to debt negotiation. National Debt Relief also ensures you get out of debt within the shortest time possible thanks to its two and three-year repayment plans. After National Debt Relief accepts your payday loan consolidation, you’ll get rid of all your credit cards. This policy ensures payday loan defaulters stay focused on clearing their outstanding debts rather than amassing new ones.
6. National Payday Loan Relief
Based in Oakland Park Florida, National Payday Loan Relief has an A+ rating. The team of seasoned negotiators ensures clients save 30-50 percent by persuading their payday loan lender to waive off late payment fees. National Payday Loan Relief has debt counselors who carefully analyze the financial situation of each applicant during the vetting process. If your numbers prove that you’re insolvent, you qualify for the payday debt consolidation plan. Insolvency refers to the state where one has more liabilities than assets. National Payday Loan Relief assigns financial consultants to each client. Their main role is to ensure clients pay their loan monthly installments on time. However, they also provide financial education to prevent the client from falling back into insolvency.
7. New Era Debt Solutions
Founded in the year 1999, New Era Debt Solutions has helped its clients clear over $200,000,000 million dollars worth of outstanding loans. Its remarkable success coupled with low complaints filed against its record. New Era Debt Solutions has 17 active branches in Alabama, California, Florida, North Carolina, and New York, just to highlight a few. If you live in or near Camarillo, California, you can visit the main offices for a free consultation with New Era Debt Solutions’ certified debt counselors. Alternatively, you can get free quotes via email. In addition to its ratings, you’ll come across numerous reviews on Trustpilot and Trustlink.
Advantages of accredited payday loan consolidation companies
1. Honest reviews
It promotes a strong culture of honesty by basing the rating criteria on 13 factors. The reviews posted on aren’t biased in favor of any payday loan consolidation company.
2. Presence of physical headquarters
The government requires payday consolidation companies to have offices and active landline telephones. assess a business’ level of compliance with industry policies when awarding ratings. This is why you’ll easily find the payday loan consolidation company’s phone number and physical address on.
Choosing to settle your outstanding payday loan through an accredited debt consolidation company will save you from paying expensive fines. The fact that accredited companies have years of experience in negotiation with payday lenders provides clients with the assurance of a short and peaceful loan repayment periods. Do you have a friend who’s enduring a lot of stress due to a nagging payday loan lender? Help them get legitimate payday loan consolidation services by sharing this article with them.