Do you need to Consolidate payday loans? We receive questions every day. Here are a few!
Can I consolidate all my payday loans?
In most cases the answer is yes. You can consolidate all of your payday loans. Most payday lenders will work with us and reduce your interest rates down to 0%. This will put you in a position where you can consolidate all your payday loans into one monthly payment. That payment should be considerably lower than the payment you are making right now.
Will payday loan consolidation hurt my credit?
Interesting question because your payday loan consolidation payments won’t boost your credit but making those payments can help you not hurt your credit anymore. Payday loan lenders customarily don’t report your loans to the credit bureaus but if you default on your payments they will. That’s why it’s extremely helpful to make your payday loan consolidation payments to a reputable payday loan consolidation company.
What happens if you can’t repay a payday loan?
Your payday lender can sue you, take you to court and if they win a judgment against you, dependent upon where you live they can garnish your salary and even take your property. Payday loan consolidation is the answer. What payday loan consolidation companies do is turn all your payday loans into one monthly payment and in most cases have your interest rates reduced down to 0%. This will get you out of debt in the shortest amount of time possible. You will also get out of debt for the least amount of money, usually at 0%. These are the two most important aspects of payday loan consolidation