National Payday Loan Relief: Why Choose Us As Your Payday Loan Consolidation Specialists
If you’re struggling to make ends meet and need a way out, then we can help. Payday loans are a quick fix for many people who need money fast but the interest rates on these loans are high and over time will take a toll on your finances.
Our payday loan consolidation specialists can get you back in control of your financial situation without having to pay exorbitant fees or dealing with aggressive collection tactics from debt collectors.
We have been helping clients create debt management plans for years because we know how hard it is when life throws an unexpected curveball at you. With our affordable debt relief programs, our friendly staff, and prompt service, we want to be your trusted partner in consolidating your payday loans.
What You Need To Know About Payday Loans
Payday loans are very short-term, high-interest loans that are often guaranteed by very little. They are marketed as a potential solution for those who need cash now but are between paychecks. Payday loan lenders promise relief but they usually end up making your life more difficult.
In many cases, the installment loan you get will cost you two or three times its value, just in interest. The problem is, many payday loans are considered predatory, and they are structured in a way that allows people to become stuck in an ongoing cycle of loan issuance and payment.
This cycle and the costs and fees associated with it will quickly destroy the finances of those who fall victim to it. Luckily, in areas where payday loans can operate, there are organizations dedicated to helping people escape the payday loan trap.
National Payday Loan Relief can help free you from the constant financial struggle of payday loans and get your finances on the path to recovery.
We Pride Ourselves In Providing The Best Payday Loan Relief Option For Individuals Struggling With Debt & Are Looking For A Strategic Partner To Help Them Achieve Financial Freedom.
How To Choose Payday Loan Consolidation Specialists
Here are some general tips on how to do some basic due diligence on anyone that you are considering letting help you with consolidation.
Don’t Choose Out Of Desperation
It’s always challenging to ask for help, and this is particularly true when you’re underneath a few payday loans. The company you choose for consolidation should not make you feel like you have no other option, and they should always treat you with respect and dignity.
Check Their History
When evaluating potential payday loan consolidation companies, always be sure that they have been operating legally for several years before trusting them with your payday loan debt.
The ideal company will have been in business for at least five years with no major issues surrounding its services. You should be able to find an abundance of good reviews for them.
Additionally, leverage the internet to read reviews both good and bad for your potential provider, to make sure you’re seeing as much of the big picture as possible.
Look At How They Plan To Help You
Any respectable payday loan consolidation program provider will be able to provide significant information on how they accomplish their services. The representatives you speak with should be open about how they handle your short-term loan debt.
Check Their Payment Terms
When you discuss the payment requirements, fees, and charges, the information should be readily available. The agents you speak to should not act or feel secretive at any point and should be relatively transparent in their procedure and fees.
The best companies will work on a simple percentage system. One common payment structure is based on a percentage of the total loan debt. This is not ideal in many situations, since it may dissuade those who need the most help from seeking it.
Another incredibly popular method is to charge a percentage of the total amount saved, based on calculations made during enrollment. This provides an incentive for those with relatively low debt, as well as those with higher short-term loan debt to get it cleared up.
How Payday Loan Consolidation Can Help
Payday loan consolidation consists of working with a company that issues you a loan to cover the repayment of your payday loans, allowing you to minimize interest and pay them a lower monthly payment.
Payday loan debt consolidation can help most people get out of the payday loan cycle. Freeing them from constant worry, lender harassment, and helping them begin to rebuild their finances and credit. Here are more ways consolidation can help.
Pay Less Interest
Even though you are essentially taking on another loan, it is generally issued with a much longer-term and far lower interest APR than your payday loans.
With this loan, your consolidation specialists will work with your creditors to stop fees and interest on your payday loans, lowering the overall interest you end up paying.
This lower interest rate means that primarily, you save money and pay less for the money that was loaned to you. However, it also means that the money you do pay toward your loans gives you a better value toward paying them off.
Simplify Your Finances
One of the benefits that many people find most significant is the simplification of their monthly payments. People that are constantly juggling multiple payday loans, with multiple payment dates, can become extremely stressed from the consistent worry.
When you consolidate your loans, you gain a single point of contact for all of your loans going forward. You also now only have a single monthly payment to make, to a single company, and the rest is taken care of.
Get Yourself Some Breathing Room
Since consolidating your payday loans will often result in a much lower single monthly payment than the sum of your previous payday loan payments, that will create a little bit more wiggle room in your budget.
Many people use this recently available disposable income to begin building an emergency fund. This can help reduce the need to ever consider a payday loan in the future. Others use the additional funds to start to catch up on other outstanding or delinquent bills.
Pay Off Your Debt Quicker
Whether you begin to tackle your other debt while in a consolidation program, or afterward, enrollment can help speed up your journey to becoming debt-free.
With the lower payment impacting your monthly finances, you may be able to make larger payments on high-interest credit card debt, or student loans, helping to pay them down quicker.
On the other hand, once you complete the consolidation program successfully as well as the supplemental financial education that is offered, you may then be in a position to have a much more significant positive impact on your debt.
Continue Your Education
The best payday loan consolidation programs will help you avoid ever getting stuck in the payday loan cycle again. To help reach this goal, they will offer supplemental financial education or counseling opportunities.
This can help create a far more financially literate consumer. Consumers that are more financially informed are less likely to get caught in a predatory short-term loan trap.
Heal Your Credit
If the payday loan consolidation program you choose reports to the credit bureaus, this is a twofold benefit.
Not only does it help protect you by helping to better assess your ability to complete the consolidation loan payback, but it helps to actively rebuild your credit while you are enrolled in the program.
Downsides Of Payday Loan Debt Relief?
Payday loan relief sounds great. However, it would help if you put this in mind before applying:
- You may not be eligible for a low-interest rate – The loan interest rates scale from about 4 to 36 percent, according to your creditworthiness. Bad credit means a higher rate.
- You may still default on the payments – Despite making timely monthly payments, job loss, or any other snag might throw you in a mess again. Missed or late payments damage your credit score. We might also send your account to collections.
Alternatives To Payday Loan Relief Program
In case payday loan consolidation isn’t your best solution, consider the following alternatives:
- Enter a debt management plan – You will work with credit counselors who will negotiate with your creditors on your behalf for better loan terms.
- Request for repayment period extension – An extension will help because you will have more time to look for the full loan amount even past your next paycheck.
- File for bankruptcy – Bankruptcy is a legal process to help you discharge part of your whole debt. The process is very strict, and you might be required to sell some assets to settle your debt.
The move is usually the last resort because of its major consequences like credit damage. Consult an attorney before pulling this move.
We Help You Getting Your Financial Freedom
We have been in the debt settlement industry for more than five years. You can always trust our services.
Our debt collection company was founded with veterans and works with the best attorneys.
We have experienced attorneys that will negotiate your debt.
Thousands of our satisfied customers are always praising our superb work.
Our customer service is always ready to assist our customers
Why Choose Us For Your Consolidation Needs?
A Proven Track Record Of Satisfaction
We have helped thousands of people complete payday loan consolidation programs. We work with consumers closely and do our best to make sure that they have a program that not only accomplishes their goals but is easy to stick to.
By making sure our customers have a plan that they are enthusiastic about and feel they can easily stick to, we can help many of them complete their programs and eliminate their payday loan debt.
We also strive to help increase overall financial literacy with all of our customers, so that they are less likely to ever need a payday loan again. By using this education and counseling to continually improve their financial situation, personal loans may be an option in the future instead of payday loans.
Experienced Negotiators Working For You
The lawyers that work for us are experienced negotiators. When enrolled in our payday loan consolidation program, our lawyers will be your official negotiators, potentially saving you hundreds of dollars or more.
In most cases, our legal team can negotiate significant savings for you by working directly with your lenders regarding your debt. The more you save, the faster you finish the program and take a big step toward being debt-free.
Legal Assistance & Protection
The very same lawyers that negotiate your debts will be your legal advocate and representative in all matters concerning your payday loan debts going forward. They will also become your single point of contact for all of those matters as well.
This means that the constant, harassing phone calls should stop. Our program can help you feel relaxed and secure in your personal time, removing the constant threat of lenders calling about loans or payments. We help you take your free time back.
National Payday Loan Relief was founded by veterans of the payday loan industry. Their inside knowledge of how the predatory short-term loan industry operates is crucial for training their specialists.
We also work with leading consumer protection and collections attorneys, so that we are always best-equipped to negotiate payday loan debt down as low as possible.
These same in-house lawyers also protect our customers from the constant harassing phone calls from lenders and offer legal recourse if they don’t immediately stop.
Top-Tier Customer Support
There is no denying that reaching out for payday loan help is a sensitive and even vulnerable time for many people. This means that customer support for your consolidation service is crucial to how we measure our success.
We are here to help you through a challenging financial situation, and by treating our customers like competent and intelligent consumers we find the rate of successful program completion increases considerably.
Financial Education & Credit Counseling
It’s very important to us that you gain enough financial stability after completing our program. This stability will help you avoid getting stuck in a similar short-term financing trap. This is why we offer financial education tools to all of our enrollees.
By ensuring that our customers have the education and information they need to help them make better decisions about financial products in the future. This can include information on how to set up basic budgeting as well as advanced budgeting tips.
We also provide information and counseling on how to best manage other debt, such as high-interest credit card debt, student loan debt, and more. By making more effective choices going forward, our customers have a better chance of enjoying a debt-free life.
Experts At Negotiating
Payday Loan Relief then negotiates with your creditors for them to accept a lesser amount than what you owe them. Since you no longer pay the creditor, they will likely accept a reduced amount than risking zero payment.
After reaching an agreement, you will pay the creditor from the savings account. You can choose to do the installment payment or pay a lump sum. The first settlement usually happens between three to six months.
- Cost: We collect a fee when the debt is settled. Our fee varies between 15-25 percent of your enrolled debt.
- Savings: Our clients realize about 30% savings inclusive of the fees. However, this applies to customers who stick to the program until settling the debt. Although most clients who enroll in the program finish it, others drop out for many reasons, including the incapability to save sufficient money for settling debts.
- Timeframe: Most of our customers complete their settlement program within two to four years.
Risks Of Debt Settlement?
Debt settlement has serious risks and costs, including:
- Creditors and debt collectors may still be on your neck: There’s no surety that the creditors will want to work with us. You may be contacted or even sued by the collectors.
- The forgiven debt may attract taxation: Forgiven debts may be considered as income on your taxes.
- Fees and interest continue to pile: Once you enter a debt settlement program, your account will be in arrears, resulting in more interest and late fees.
Why Choose Our Payday Loan Relief Program
Thousands of customers have used our payday loan relief to consolidate their payday loans or make debt payments when they can afford after payday. Our top priority is to get you out of debt with the most comfortable experience.
We have the best-trained professionals that will give you a suitable financial plan to help you pay off your debts with so much relief. Payday loans are a monster. However, several payday loan consolidation and payday loan relief programs help you overcome the vicious debt cycle. Payday loan relief strives to assist you in getting all your debts paid and improve your financial freedom. The payday loan relief program helps you clear your outstanding debts by availing several plans. There’s no standard plan when it comes to payday loan relief.
Contact NATIONAL PAYDAY RELIEF for your personalized financial plan to effortlessly get you out of payday loans.