Do payday loans get written off by the lender?
It depends on the company. Some creditors are more aggressive in collection efforts then others. I think we all know that from personal experience.I don’t have a crystal ball but my guess would be that a smaller percentage of payday loans get written off then other type loans, simply because collection efforts are more successful with the payday loans.The thing to remember here is that whether they’re written off or not means nothing to you. The reason for this is because if you have the debt, you’re likely the one to get sued and if you can’t pay there could be a judgment issued against you. What do you need to do is consolidate that payday loan debt at an interest rate that could be up to 700% lower than you’re paying right now. The key is to just get it done, and to change your financial future.
We are not a payday loan company, We consolidate these types of payday loan debts. Helping to reduce our clients payday loan interest rates down to zero percent in most cases, allowing them a chance to get debt free.
Federated Financial has worked hard to ensure that local and on-line communities receive the very best possible level of care and support possible. Our counselors, customer service representatives, and creditor relations specialists are certified as credit counselors by the independent National Institute for Financial Education.
Our goal is to teach payday loan consolidation to consumers everywhere how to understand and manage debt so that they can achieve and maintain financial security. We understand the important monetary issues and challenges life can send your way and we are here to help. Our free community outreach programs, which include public seminars, walk-in clinics, newsletters, and on-line materials, give all of our visitors the ability to understand how credit works; how to overcome financial obstacles; and how to achieve important economic goals.