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27 Jun 2020
payday loan consolidation company

The payday loan rebellion has started!

For many years legislators have talked about capping payday loans. 12 states and the District of Columbia, currently outlaw payday loans. If you’re curious, the chart is on this website. Click on the green map halfway down the homepage to see all the states where payday loans are illegal. But, it’s finally happening. 120000 people from Nebraska have signed a petition hoping to cap payday loan interest rates at 36%. That petition has more than a hundred and twenty thousand signatures. It will likely appear on the November ballot. People from Nebraska annually pay roughly 28 million dollars in interest and fees to payday lenders.  Read the full store HERE.

That’s outrageous! More importantly, it bastardizes the initial reason that this whole business was created. In this blog, I’ve mentioned more than one time that in small doses, and for the right reasons, payday loans are the last chance outlet for people with poor credit to obtain money for necessities for a very short time. The operative words here are a very short time. Greedy entrepreneurs have taken this particular business model and twisted it for their own good and turned it into something that hurts not helps the consumer. One-quarter of this country has already decided they will no longer accept this,  and the rebellion now continues. There are 28 million reasons why Nebraska is doing this. The GOP seems to have no interest in helping the core group of people that use the services. The Consumer Financial Protection Bureau was conceived by senator Elizabeth Warren in 2007. It began operation on July 21st, 2011 under the leadership of President Obama. Aside from a bunch of legal wrangling this agency has done very little since its inception. Under President Trump, it’s almost like this agency doesn’t exist. His people run it. First, it was Mick Mulvaney, and now Kathy Kraninger. If you read this blog you’ll know that I’ve written a lot about her. I believe she gets paid a lot of money to do absolutely nothing. Consequently, Nebraskans have taken things into their own hands. At 36% short term, and by short-term I mean for a week or two max, a payday loan is a viable alternative for people that are having one-off and desperate financial difficulty. Check out Consumer Finance Gov Site here.

If you are an American who is having payday loan difficulty you are on the right website. Consolidating your payday loans is what we do. We can reset the timer back to zero. I mean that literally. We are a 23-year-old payday loan consolidation company with an A+ rating with the Better Business Bureau. We do what we say and we say what we do. Consolidating your payday loans is not difficult when you have the reputation we do. Your creditors readily work with us and in most cases will lower your interest rate from between 200 and 700% annually all the way down to zero. That’s right we can consolidate your payday loans at 0% interest in most cases. It’s a simple process and we are extremely experienced. Our track record speaks for itself. Give us a call during regular business hours or in the alternative simply fill out our short form and someone will get back to you during business hours. Make us your financial go to when you are in Payday loan debt. You’ll be glad you did. We treat our clients like family and we care.

18 Jun 2020

And so the Payday Loan Debt Consolidation conundrum! Should I or shouldn’t I, and is Payday Loan Consolidation good for you?

Payday loan debt consolidation. I believe it’s a gift, but let’s digress for a moment. Let’s start with a better question? Should you take a payday loan under any circumstances? Most of the so-called experts will tell you no. No matter what happens never deal with payday loan lenders. They’re one step above, or perhaps one step below loan sharks. Their interest rates run between 200 and 700% annually and they charge outrageous fees. All of this is true. And I’ll digress one more time. Why are there payday lenders out there, and more importantly why do people take these loans?

 

My contention is, if used properly payday loans are not bad. Payday loans were created for a reason and then bastardized over the years. They were created because there are many out there with poor credit who are unable to get a conventional loan. There was no place for these people to borrow the 50, or 100 or $200 that they needed until Friday just to feed their families. Payday loans are nothing more than pawnshops without the collateral. My point is that used properly a payday loan can come in handy for a week or perhaps two. Payday lenders don’t want you to pay them back over a couple of weeks. Their business model is set up to create an endless cycle of debt, with one loan rolling into another. Changing the business model somewhere along the road is what made these companies that were initially a win-win situation, into a lose-win situation with the consumer being the loser. Therefore payday loans CAN  work and they’re not a bad thing if they’re paid back quickly.

 

And now we come to the reason that you’re here. You borrowed money in good faith and more than likely got stuck by the Coronavirus. What I’m getting at is that you probably lost your job and weren’t able to pay your payday loans back. Now the country has reopened and your phone is ringing off the hook. Collectors are back at work collecting. What do you do? The answer is really simple and it shouldn’t cause you any financial stress. Payday loan debt consolidation works. You’re on our site so during business hours just give us a call. In most cases, we can lower your interest rate down to 0%, which in turn gets you out of debt more quickly and for less money each month. Why use Federated Financial to consolidate your payday loans? Because we make it easy. We’ve been in business 23 years and still maintain a Better Business Bureau rating of A-plus. As I mentioned, give us a call and speak to a certified credit counselor. in the alternative fill out our short form and a certified credit counselor will get right back with you during business hours. Your counselor will go over your debts with you and provide you with a new monthly payment, more than likely interest-free, that will get you out of debt in the shortest amount of time possible. In addition, the phone calls will stop. This will take away your anxieties regarding your debt. Payday loan debt consolidation works. We’ve proven that for well over two decades. Let’s get started today! We’re great at what we do and we treat our clients like family. We care!