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3 Cards in this Set

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Payday Loans Consolidation ProgramIf you're trapped in the payday loan cycle and think there's no way out ' you'd be mistaken. A very successful solution for getting out from these payday loans is a payday loan consolidation program. Now a consolidation program is different from a traditional consolidation loan. With a consolidation loan you would take out a low interest loan and then you would take that money and use it to pay off all your payday lenders. Once you have done that you're left with just that one loan ' and depending on the terms of that loan you would be paying it of off for 2 or 3 years maybe longer. Sure you have a loan but the upside other than not having payday loans any more is you'd be strengthening your credit rating/score which is always a good thing. Of course that's only if you keep up with your new loan payments. But the problem with a traditional consolidation loan is that many people cannot qualify for such a loan. And it's usually because the borrower does not have the sufficient collateral to support the loan or their credit is just not strong enough ' or it can be a combination of the two. Unfortunately at this point many people think they're out of options and some people even resort to filing bankruptcy to get out from under the crushing interest rates and fees these loans have attached to them. But there is an additional option and it's a payday loan debt consolidation program ' unlike a traditional consolidation loan where the financial institution has stricter qualifying standards - payday loan debt consolidation programs do not. First your credit score has no bearing and you do not need any collateral to qualify for this program. Here's how a payday loan debt consolidation program works with most companies. First the consolidation company will take over your loan so the lenders now have to deal with the consolidation company and not you. Just like having a lawyer the company now speaks for you. Next the company will then negotiate a re-payment plan, this new payment schedule is typically set over 6, 12 or 18 months it really depends on your situation. Your new monthly payments will be far less than what you're currently paying and in addition to that the company can get all the interest and fees stopped. So now instead of you having to run all over the place to pay different lenders every few weeks you'll now make one monthly payment to the consolidation company and then in turn the consolidation company will pay your lenders. Some companies will even go as far as sending a cease and desist order to each lender so you will not get those harassing phone calls from the payday lenders looking for their money. If you stay on track with this program you will get out from under your payday loans ' but of course this only works if you don't get more payday loans. And on a final note make sure you do your homework when looking for a payday loan debt consolidation company. There are a lot of legitimate companies more than willing to help you. But unfortunately there are plenty of payday loan debt consolidation scams out there and you certainly don't want to get caught up in one of those. I did an article where I expose the 3 biggest red flags on how to avoid a consolidation scam ' you might want to check that out before you jump into bed with any company.
Payday Loans Consolidation ProgramIf you're trapped in the payday loan cycle and think there's no way out ' you'd be mistaken. A very successful solution for getting out from these payday loans is a payday loan consolidation program. Now a consolidation program is different from a traditional consolidation loan. With a consolidation loan you would take out a low interest loan and then you would take that money and use it to pay off all your payday lenders. Once you have done that you're left with just that one loan ' and depending on the terms of that loan you would be paying it of off for 2 or 3 years maybe longer. Sure you have a loan but the upside other than not having payday loans any more is you'd be strengthening your credit rating/score which is always a good thing. Of course that's only if you keep up with your new loan payments. But the problem with a traditional consolidation loan is that many people cannot qualify for such a loan. And it's usually because the borrower does not have the sufficient collateral to support the loan or their credit is just not strong enough ' or it can be a combination of the two. Unfortunately at this point many people think they're out of options and some people even resort to filing bankruptcy to get out from under the crushing interest rates and fees these loans have attached to them. But there is an additional option and it's a payday loan debt consolidation program ' unlike a traditional consolidation loan where the financial institution has stricter qualifying standards - payday loan debt consolidation programs do not. First your credit score has no bearing and you do not need any collateral to qualify for this program. Here's how a payday loan debt consolidation program works with most companies. First the consolidation company will take over your loan so the lenders now have to deal with the consolidation company and not you. Just like having a lawyer the company now speaks for you. Next the company will then negotiate a re-payment plan, this new payment schedule is typically set over 6, 12 or 18 months it really depends on your situation. Your new monthly payments will be far less than what you're currently paying and in addition to that the company can get all the interest and fees stopped. So now instead of you having to run all over the place to pay different lenders every few weeks you'll now make one monthly payment to the consolidation company and then in turn the consolidation company will pay your lenders. Some companies will even go as far as sending a cease and desist order to each lender so you will not get those harassing phone calls from the payday lenders looking for their money. If you stay on track with this program you will get out from under your payday loans ' but of course this only works if you don't get more payday loans. And on a final note make sure you do your homework when looking for a payday loan debt consolidation company. There are a lot of legitimate companies more than willing to help you. But unfortunately there are plenty of payday loan debt consolidation scams out there and you certainly don't want to get caught up in one of those. I did an article where I expose the 3 biggest red flags on how to avoid a consolidation scam ' you might want to check that out before you jump into bed with any company.
View more at cram.com
View more at cram.com
Payday Loans Consolidation ProgramIf you're trapped in the payday loan cycle and think there's no way out ' you'd be mistaken. A very successful solution for getting out from these payday loans is a payday loan consolidation program. Now a consolidation program is different from a traditional consolidation loan. With a consolidation loan you would take out a low interest loan and then you would take that money and use it to pay off all your payday lenders. Once you have done that you're left with just that one loan ' and depending on the terms of that loan you would be paying it of off for 2 or 3 years maybe longer. Sure you have a loan but the upside other than not having payday loans any more is you'd be strengthening your credit rating/score which is always a good thing. Of course that's only if you keep up with your new loan payments. But the problem with a traditional consolidation loan is that many people cannot qualify for such a loan. And it's usually because the borrower does not have the sufficient collateral to support the loan or their credit is just not strong enough ' or it can be a combination of the two. Unfortunately at this point many people think they're out of options and some people even resort to filing bankruptcy to get out from under the crushing interest rates and fees these loans have attached to them. But there is an additional option and it's a payday loan debt consolidation program ' unlike a traditional consolidation loan where the financial institution has stricter qualifying standards - payday loan debt consolidation programs do not. First your credit score has no bearing and you do not need any collateral to qualify for this program. Here's how a payday loan debt consolidation program works with most companies. First the consolidation company will take over your loan so the lenders now have to deal with the consolidation company and not you. Just like having a lawyer the company now speaks for you. Next the company will then negotiate a re-payment plan, this new payment schedule is typically set over 6, 12 or 18 months it really depends on your situation. Your new monthly payments will be far less than what you're currently paying and in addition to that the company can get all the interest and fees stopped. So now instead of you having to run all over the place to pay different lenders every few weeks you'll now make one monthly payment to the consolidation company and then in turn the consolidation company will pay your lenders. Some companies will even go as far as sending a cease and desist order to each lender so you will not get those harassing phone calls from the payday lenders looking for their money. If you stay on track with this program you will get out from under your payday loans ' but of course this only works if you don't get more payday loans. And on a final note make sure you do your homework when looking for a payday loan debt consolidation company. There are a lot of legitimate companies more than willing to help you. But unfortunately there are plenty of payday loan debt consolidation scams out there and you certainly don't want to get caught up in one of those. I did an article where I expose the 3 biggest red flags on how to avoid a consolidation scam ' you might want to check that out before you jump into bed with any company.