What is payday loan consolidation?
Many of us have been in the need for a payday loan. They are useful when you need them and are not hard to qualify for. So whats the problem with them? When it comes time to payback your payday loan, they require that the loan be paid in the full amount of the payday loan in one payment. They do not allow you to pay back in installments. Often times with bills and hardships it can be difficult to pay that back at once, so what do you do? Chances are you took another payday loan to cover the first payday loan you had. After you have done this once, the cycle will begin to start and end up repeating itself leaving you in thousands of dollars in payday loan debt. What can you do to get out of the payday loan trap? Payday loan consolidation!
What is payday loan consolidation
What is payday loan consolidation? Payday loan consolidation is a strategy used to lower your monthly payment amounts from all of the payday loan venders that you have a loan with. All of your loans are combined together into one loan, now instead of paying 25% across each loan you will have one monthly payment at a lower payment amount and lower interest rate.
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If you have multiple outstanding payday loans, you owe it to yourself to schedule a free, no-hassle consultation with one of our Debt Consultants today at 1-888-407-4521 or fill out this form.