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Home » Debt Relief » Payday loan consolidation

Payday loan consolidation: Helps to get rid of your multiple pdl debts

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Taking out a payday loan is easy which usually makes it more tempting. Add to it the high APRs and the considerable late fees (in case you're unable to pay) and it loses all its attractiveness. When multiple payday loans seem difficult to maintain, you can consolidate them to get rid of them sooner.

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How does payday loan consolidation work?

Consolidation might be a good choice for you, if you're finding it difficult to get out of the payday loan cycle. It can help you to avoid the stress over your multiple payday loans by combining them together. Thereafter, a repayment plan is arranged, so that the ever-growing payday loans can be eliminated with single monthly payments. Interest rates might also be reduced by consolidating payday loans, which can help to make the payment affordable.

Can it help you?

Consolidating your payday loans can offer several advantages as it can:

  1. Reduce the high interest rates on your payday loans
  2. Combine your multiple payday loans into single affordable monthly payment
  3. Get rid of the extra charges, penalties and late fees
  4. Reduce the harassing calls from the debt collectors
  5. Improve your credit score with time
  6. Keep you away from bankruptcy filing

How can you consolidate your payday loans?

If you need to consolidate payday loans, you can either do-it-yourself or enroll into a consolidation program. Find out how the two ways of payday loan consolidation functions:

  • Consolidation program: You can consolidate payday loans online by enrolling with a company offering you debt consolidation services. The professional companies can offer you relief from your payday loan debts by arranging affordable payment plan for you. They usually negotiate with your creditors to scale down interest rates and waive off penalties, so that it becomes easy for you to get out of payday loan cycle.
  • Consolidation loan: You can take out a consolidation loan at low interest rate and use the amount to pay off your existing payday loan dues. Thereafter, you can pay off the loan through single affordable payments in a month. However, you may need to place a collateral if you take out a secured consolidation loan.

How can you pick your consolidation company?

A legitimate company can lead you towards a smooth exit out of your multiple payday loans. However, it's extremely important that you choose your consolidation company wisely. Compare the options available in the market and always check for feedback to ensure that you enroll with the best payday loan consolidation company.

Find Payday loan laws by state
Top Questions
Got any queries?

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Should I take out another loan?

I have incurred a huge amount of debt on credit cards and payday loans. My friends tell me to take out another loan in order to combine my debts? If I do this, will this be helpful or wise?... Read more »

Category: Debt Help

0
votes
1
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Do you really need the agreement?

The payday loan company is not giving me any agreement. Should I go ahead and take out the loan? I need money and the company is offering a good deal. ... Read more »

Category: Debt Help

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1
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Can you cancel a loan if required?

Can you cancel a loan if required? ... Read more »

Category: Debt Help

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1
answers

How to find a good counselor?

I am bleeding with my credit card and payday loan debt. Could you please tell me about some tips to choose the best or rather the most trustworthy credit counselor who can guide me towards a debt free life? How would I know the intentions of the credit counselors?... Read more »

Category: Debt Help

0
votes
1
answers

Debt consolidation company asking to stop payments

I want to combine my unsecured debts through a debt consolidation company and since I've made this decision I have been approaching different companies. Some of them are asking me to stop making payments to the creditors. Is it so? Will this not hurt my credit score? Should I listen to what they're saying?... Read more »

Category: Debt Scams

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A payday loan or payday cash advance is a short-term, small unsecured loan that often turns up as savior at times of financial emergencies. However, while most of the payday lenders are reputed and carry out their ventures as per law, some do not. I’m afraid but simply filling out an online application to assume a payday loan may subject you to the latest phone collection scam. You never know when your personal information is sold to scammers thus making you victim of a scam play. What ... Read more »
Date: 05:11 am 23rd Oct, 2013
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U.S. regulators resolve to knock off payday lending tricks

By now, most of the US citizens know that once you get into the payday loan trap, it’s extremely difficult to get out of it. A new report by the Consumer Financial Protection Bureau (CFPB) also affirmed the fact, as it pointed out in details that how the payday loans have been sucking the life-breath of the consumers. Who offers the short-term credits? The payday loans are mostly offered by the storefront lenders, who secure the loans with a post-dated check. Usually the lenders don... Read more »
Date: 03:32 am 16th Oct, 2013
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Choose your consolidation company wisely to cope with payday loans

Payday loan debts can gradually increase with time, making it much more difficult to get rid of. Read along to know how consolidation companies can be of assistance when you get stuck with multiple payday loans and lead you out of such situations. How do payday loan consolidation companies help you? Payday loan debt consolidation companies can help with payday loan debt if a debtor has multiple payday loan debts. The payday loan consolidation companies, with their professional attitude and ... Read more »
Date: 03:42 am 28th Jun, 2013
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Getting rid of your payday loans can be easier with consolidation

Instant and effortless availability of payday loans often tempt you to borrow without prior thinking. Problems arise when you fall behind on your payments because of the unusual APRs and substantial late fees. The situation becomes worse when you have multiple payday bills to meet. If you want to get help with payday loans, then why not consider payday loan debt consolidation. Read below to know if payday loan consolidation can really help you find out your desired exit. What payday loan cons... Read more »
Date: 02:38 am 28th Jun, 2013
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Showing you the safe way to pick your payday loan settlement company

Payday loans are easy to take out and harder to get rid of. Often when the debt burdens run high, consumers try to get rid off their payday loans desperately. As a result, they may end up with scam services and suffer further financial losses. If you’re trying to get out of your payday loans with professional assistance, choose your settlement company wisely. Which 3 steps are to be followed before enrollment? When you're thinking of how to get out of a payday loan cycle and getting p... Read more »
Date: 11:09 pm 26th Jun, 2013
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In an effort to better our services, we conduct an ongoing survey. Check out the survey results and see what the existing and past clients have to say about us:

  • Overall satisfaction
    The graph below shows the percentage of people satisfied after they spoke to us.
    Client Satisfaction Rate
    Very satisfied: 71%
    Satisfied: 13%
    Undecided: 6%
    Dissatisfied: 3%
    Very Dissatisfied: 7%
  • Ways to Contact
    The graph below shows the percentage of people using different mediums to contact us.
    Contact Medium Usage Rate
    Telephone: 52%
    Support Request: 17%
    E-mail: 27%
    Fax: 0%
    Other: 4%
  • Customer service
    The graph below depicts the satisfaction level for the less time taken by our team to solve various queries.
    Customer Service Quality Rate
    Very satisfied: 71%
    Satisfied: 14%
    Undecided: 5%
    Dissatisfied: 3%
    Very Dissatisfied: 7%

*Client names have been changed to protect privacy
**Represented feedbacks have been randomly selected from clients who took part in survey organized by OVLG
By Client BH*
profile pic Financial Coach:Shane Rogers
Rated by client: 		 Client Relationship Manager:Ray Smith
Rated by client: 
Preferred Contact Medium:EmailOverall Satisfaction Level:Very Satisfied
BH's Feedback: I'm very happy with my overall experience with Ray Smith. He was a great help at all times. Any questions or concerns that I had, Ray addressed them in a timely fashion and was very helpful.

By Client RM*
profile pic Financial Coach:Ron Clark
Rated by client: 		 Client Relationship Manager:Perry Taylor
Rated by client: 
Preferred Contact Medium:EmailOverall Satisfaction Level:Satisfied
RM's Feedback: Happy to work with this Company!
Suggestion: More organized!

By Client TL*
profile pic Financial Coach:Shane Rogers
Rated by client: 		 Client Relationship Manager:Patricia Clark
Rated by client: 
Preferred Contact Medium:EmailOverall Satisfaction Level:Satisfied
TL's Feedback: I'm starting to feel a bit reticent to continue paying you $350 per month. I'm not seeing a result that is worthy of my monthly payment.

By Client CF*
profile pic Financial Coach:Vernon Smith
Rated by client: 		 Client Relationship Manager:Ronald Gallant
Rated by client: 
Preferred Contact Medium:EmailOverall Satisfaction Level:Very Satisfied
CF's Feedback: Ronald Gallant is wonderful to work with. He is always quick to return my call or email. It seems he goes right to work on my issue as if I were his only client. He never fails to handle everything in a prompt professional manner. Today, as I go into court, I feel as if I have him there with me. He has provided everything I need and worked with me on what to say while there. I am 100% please to be working with him. Vernon Smith- I cannot rate as I haven't had any further interactionwith him since I came onboard January 2012.
Suggestion: I have no improvement suggestions at this time

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The services of Oak View Law Group (OVLG) and its affiliates may not be available in all states. OVLG along with its Of Counsel attorneys may also be referred to as "Oak View Law Group", "we", "us" or "the firms".
Copyright © 2013 Oak View Law Group

Disclaimer: The contents of this web site are not intended to establish an attorney-client relationship, provide the reader with legal advice, or substitute for legal advice from an attorney.

  1. The debt settlement program typically lasts between 6 months to 4 years time.
  2. At least 30% of the debt amount per creditor needs to be accumulated in the trust account for OVLG to give the creditor any settlement offer.
  3. Not all creditors or debt collectors will accept a reduction in the balance, interest rate, or fees a customer owes such creditor or debt collector.
  4. Pending completion of the represented debt-relief services, the customer's creditors or debt collectors may pursue collection efforts, including initiation of lawsuits.
  5. That the use of the debt-relief service will likely adversely affect the consumer's creditworthiness, may result in consumers being sued by their creditors, and may increase the amount owed to creditors as a result of the accrual of additional fees and interest;
  6. Savings a customer realizes from use of a debt-relief service may be taxable income.
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