6574 North State Road 7 #137 Coconut Creek, FL 33073
Mon-Fri: 9am - 9pm
02 Feb 2020
payday loan consolidation company

Big news about Federated Financial Payday Loan Consolidation Website!

For many years Federated Financial has used the internet as an educational tool for people who are in debt. In this particular instance we are talking about payday loan debt, how to consolidate that payday loan debt, and how to make it easier to pay off. We’ve always believed our website to be informative, well written and what I would call customer centric. Well, we’ve taken another step forward. We feature and will continue to feature our large frequently asked questions page but in addition we will now begin to provide to consumers who visit this site human answers to human questions.

Our newly created vlog will answer questions that are asked the most. Real questions that are asked of us by real people. Questions like “Can I consolidate my payday debt?” Below is an example of the payday loan consolidation themed videos we will be releasing on a routine basis:

Can my Social Security be garnished by a payday loan company?

Can I Consolidate My Payday Loans?

Get out of Debt!

Can Payday Loan Companies Take My Money?

Questions like “Can I be put in jail for not paying my payday loan?”these are all relevant questions and really need more of a human spoken response then a written response. Like many things in life payday loan consolidation question answers, are all different dependent upon each individuals unique situation. I would strongly suggest you check our vlog regularly to you have your payday loan debt consolidation questions answered in a concise and understandable way. We’re here to help you and we’d like to consider ourselves a strong educational resource for the consumer who’s in debt.

27 Jan 2020
payday loan consolidation company

The anatomy of Payday Loan Consolidation

I felt this would be a good time to revisit exactly how payday loan consolidation works and how to get started. Payday loan consolidation can be a gift if you are strapped to a high-interest payday loan that you obtained through what I like to call predatory lenders. How do you get out of debt? Sometimes solutions that seem almost impossible, are right at your very fingertips.

The first step is to find a reputable payday loan consolidation company. You’ve found one on this website. Whatever brought you here brought you to the right place.we have 23 years worth of experience and accolades in this business having opened our doors in late 1997. We have been recognized by the BBB with their highest mark, which is A+.

We have been recognized by our customers in our Google reviews and most recently I’m proud to say that we were featured in a Market Watch article that we’ve posted here on this site. This article was posted by Market Watch just a week ago and this is January 2020. Market Watch was impressed enough by our site and our reputation to post a link from their site referring us to their payday loan consolidation customers.

Okay, so how does it work? Up top, on our home page is a form. It’s a simple form that asks you to fill out five things. It takes 30 seconds to do. You can even get things rolling more quickly if you’d like. Just pick up the phone and call us Monday through Thursday from 9 to 9 and Fridays from 9 to 6. You will be connected either by form or by telephone to an accredited payday loan counselor. All you need are the names of your creditors and the account numbers if you have them.Your counselor will discuss your situation with you and based on our 23 years in business and our excellent relationships with your creditors more likely than not we will be able to submit you into a payday loan debt consolidation program.

This will reduce your interest rates down to 0%. Obviously, that will eliminate the exorbitantly high interest rates that you have been paying consequently lowering your payment to a more affordable dollar amount. It will also ensure that if you make your payments on a timely basis you will get out of debt a lot quicker then you would have if you had been paying interest. In addition you won’t have to roll the loan over into a new one with more fees being added to an already onerous balance. Aside from a bankruptcy which can be messy and embarrassing, this really is your only alternative. Use it. It will save your financial future.

23 Jan 2020
payday loan consolidation florida

Payday Consolidation Loans and Laws in Florida

In some recent posts we’ve been talking about how laws that seem ironclad are easily being broken in States that either regulate interest, or have made payday lending illegal. Today we talk about Florida. In Florida, payday loans are referred to as deferred presentment transactions. That means the act of writing a post-dated check for money that’s borrowed today. Florida has enacted payday legislation. There’s a $500 limit on payday loans that are offered in the state of Florida.

They are allowed to be taken from 7 to 31 days with a maximum finance charge of 10% for every hundred dollars and maximum rate of 304% APR. The state of Florida only allows one loan at a time. in addition the state mandates what they call a cooling-off period of 24 hours between two loans that are taken in a row. In addition, the Florida statute states that you can’t roll over one loan into another. Those are the laws in the state of Florida. Let’s take this apart for a moment and analyze it. Florida allows a usurious interest rate of 304% APR. I question that. Why even have a law if you’re going to allow lenders to charge consumers over 300% in annual interest? There’s an answer there, but let’s take another step back.

SoF-seal

In the state of Florida, Law mandates that in the state predatory payday lending is it illegal and yes it comes up with a week caveat that only one loan at a time may be taken? My primary question would be, how does that benefit the consumer, keeping in mind that I can take a loan from Joe’s payday loan company and then walk down the block and take a loan from John’s Payday loan company. There’s no way to monitor that. Debt consolidation payday loans are freely available in the state of Florida and I’ll tell you why in a moment. The rollover portion of this law is plain stupid. People can take the loan from John’s company down the block to Joe’s company, and borrow the money from Joe to pay John. Here is what I believe is the answer.

stoflogo

Florida is home to some large Native American tribes. The Seminoles, the Muskogee’s, the Apalachees, the Camusa’s and the list goes on. These tribes make a huge amount of money on payday loans and consequently are able to employ huge lobby groups to continue to help them keep payday loans a viable option in Florida behind some very weak legislation.

If you’re in Payday loan debt and need help call a legitimate, old and established payday loan consolidation company for your debt help. Consider the company that hosts this blog. They’ve been in business 21 years with an A+ BBB rating.. Call them, you’ll be glad you did

20 Jan 2020
payday loan consolidation pennsylvania

Payday loans, Consolidation and Laws in Pennsylvania

Payday loans are prohibited in Pennsylvania. There are some consumers and lenders that are still able to get past these laws. The internet is their answer. Native American tribes make short-term loans based on post-dated checks with exorbitant interest rates, using their sovereignty as a way around state law. In 1998 there was a law passed in Pennsylvania that stopped all check-cashing companies from lending money based on receiving post-dated checks from the consumer. Even though they are not check-cashing companies, payday lenders are subject to this rule.

In addition to prohibiting payday loans, Pennsylvania has some very strict rules regarding interest rates that can be charged to consumers. There are some payday loans that can run up to 700% interest annually. The average payday loan has an interest rate that runs approximately 300%. Pennsylvania passed the Consumer Discount Company Act. This was specifically designed to regulate interest rates. It specifies that small short-term lenders cannot charge more than 6% on any loan they issue in the state. Some lenders are allowed to charge up to 24% interest but they need proper licensure to do so.

The initial result of this legislation was extremely positive. A large percentage of payday loan companies stopped working in the state. Most payday lenders in the state of Pennsylvania just didn’t feel that the low interest rates are beneficial to them so they don’t issue loans anymore. There are some lenders that have partnered up with native American tribes and together continue to fleece the consumer. The state of Pennsylvania is aware of this but unfortunately cannot do anything about it. It looks like payday loans will be around in Pennsylvania for a while. This begets an interesting question…

Why do people still pay these ridiculously high interest rates to obtain payday loans in Pennsylvania. The answer is pretty obvious. They need the money to pay their bills.

18 Jan 2020
washington dc payday loans

Payday loans, Consolidation and Laws in Washington DC

I thought that would be interesting to go through the various 12 States and the one district that either limits payday loan interest or doesn’t allow payday loan lending at all. I’ll be doing one of these articles every week specifically looking into these states.

The maximum interest rate that can be charged in Washington DC is 24%. That is a cap that applies to any kind of personal loan in that district. This rate applies to every Bank and every Credit Union. The max rate would yield a financial result of $16.11 for every $100 borrowed. Unlike many other states that do not cap these loans DC has taken a step to protect the consumer. Other states charge up to 700% annually.

Before 1998 there were no caps on payday lending in Washington DC. In 1998 Washington DC cracked down on high interest predatory lending. That year DC made it illegal for Check cashers to issue post-dated checks. That law put a stop to payday lenders who relied on that particular way of payment. 9 years later in 2007, the district established a 24% interest rate cap, which would be considerably lower than the egregious 700% rates that other states allowed. There is an exception to this and that exception is that tribal lenders in-store fronts and online can still offer ridiculously high rates to DC residents. Unfortunately my guess would be that some residents don’t know about the laws of the district and are fooled by advertisements into borrowing from tribal lenders. A little bit of knowledge is worth a huge interest savings. Tribal lending is the only exception to interest rate laws in DC.

In addition to that, Washington DC makes it mandatory for all payday lenders to have a license. Breaking the law would cause these licenses to be revoked and put these lenders out of business.if you do a search on the internet for payday lending in Washington DC you will find companies that loan money in the district. Be very careful in dealing with them. Make sure by asking and always get everything in writing. The questions are simple. Are you a tribal lender? What is the maximum rate your company charges for a payday loan? If the answers are outrageous you’ve run into a tribal lender, or an online company owned by tribal lenders without an actual business address in Washington DC. Just walk away. There are legitimate payday lenders in our nation’s capital.

16 Jan 2020
predatory lending demographics

Payday loan purchase Insights & Demographics

Payday loan insights outline the targeted demographics of these payday loan companies. Many of these companies know that their customers can’t afford to pay them back. This industry has become almost predatory… it’s a very good thing companies like us work to consolidate this debt. These are telling numbers and a direct reflection on the differences between the rich and or comfortable, and lower-income people. Why Do people find Payday Loans make their financial situation worse? Payday loans are extremely short-term loans. They have to be paid back in full immediately or the interest on them carry anywhere from 200-700% or more APR when the fees are annualized. Why do so many people suffer… because Payday Loans are not heavily regulated and many are left in the wild west in regards to their finances. Let’s take a look at the target demographics of these payday loan companies, these statistics are courtesy of finder.com

Who takes out payday loans?

You might very well be surprised or you might not, but the reasons people take out payday loans are the scariest part of this article. Read on!

a. Payday loans are most commonly taken out by people ages 25 to 49. Senior citizens more commonly use their credit cards or take out personal loans.

b. People who haven’t completed a four-year college education are twice as likely to take out payday loans then college graduates.

c. People who are separated or divorced are twice as likely to take out payday loans than people who are married or single.

d. People with kids are more likely to take out payday loans than people without.

e. Renters are twice as likely to go the payday loan route as people who own homes.

f. African Americans are twice as likely to take out payday loans as people of other races or ethnicities.

Low income households, People with household incomes less than $40,000 a year are three times more likely to take out these high interest loans then people with higher incomes. People in households making between 15 and $25,000 a year are the most likely to take out a payday loan.

These are telling numbers and a direct reflection on the differences between the rich and or comfortable, and lower-income people. This country has no middle class anymore. Here’s the scary part of this story. 69% of all people who take out payday loans aren’t worried about emergencies, broken automobiles, busted washing machines or an air conditioner that doesn’t work. 69% of the 12 million people who take out payday loans every year use the money for simple daily expenses like food, electricity and water bills.

Rent payments and credit card payments. Credit card payments are a terrible reason to take out payday loans. Just stealing from Peter to pay Paul at usurious interest rates. There are no answers. Our society today doesn’t seem geared to help create the answers but instead to keep perpetuating the problem by not clamping down on these payday loan companies. At this point the best solution is payday loan debt consolidation. Reduce your interest rates down to zero and pay these damn things off quickly.

If you’ve found yourself or a friend stuck in this vicious debt cycle please have them contact us immediately!

12 Jan 2020
consolidate payday loans

Women in debt, not many people talk about that

Right now in America there are over 12 million single mothers.

That’s right, 12 million single mothers taking care of children under 18 and taking care of themselves. Staying out of debt and taking care of a family is difficult job. Debt happens. In many cases falling behind is inevitable. Women run up their credit cards too. When things get tight many women turn to Payday loans. Yes, those high interest payday loans are a last resort.Taking care of two young children and working 8 hours a day can take its toll on people emotionally and financially.

Single mothers get caught up in the cycle. 500, 600, 700% interest rates.

Unaffordable monthly payments. And before they know it a $1,000 payday loan turns into a $2,000 payday loan, the high interest rate driving the balances up. What should somebody in that situation do? Payday loan debt consolidation is the answer. Outrageous interest rates make these loans impossible to pay off yet, an old reputable payday loan consolidation company can get people in this situation out of debt without paying any interest on their balances. That’s right, 0% interest. Long-term relationships with creditors is the answer.

A payday loan debt consolidation company who has worked with any specific creditor for many years is a company that the Payday loan company trusts also. The Payday loan company trusts the payday loan consolidation company to work as hard as they can with the client to make sure they get paid back. It’s a win-win situation. The client gets out of debt in a shorter amount of time and the payday loan company gets paid. Remember, it’s near impossible to get out of high payday loan debt. Let the people who know how to do it help you today!

08 Jan 2020
consolidate my payday loans

What is the difference between payday loans and all other loans?

This article has been written for the people who have not yet been informed how payday loans are significantly different from personal loans or a secured loan. A personal loan can be more difficult to get without collateral. Personal loans are dependent on your credit rating. You’re scored and and put into a tier. The higher the tier the better the credit consequently the lower the interest.

Top tier is A….. Then B, then C running down to the lowest tier that any particular company has. These loans have an interest cap on them dependent upon the state in which they have been taken. There is no state that has a cap of more than 30% APR.Those with good credit might only pay 6 or 7%. That would be a good loan. Unfortunately many people’s credit scores do not put them in a top-tier. Then there are collateralized loans. They are exactly what they sound like. You post collateral for the privilege of taking out a loan understanding if that loan defaults, your property belongs to the lender. Collateralized loans are automobile loans, Furniture loans and a loan against something that you are buying that is valuable. A top-tier credit score on an automobile loan could land you a car at 0% interest depending upon the promotion that any given manufacturer is running at any given time. The rates go up commensurate with your tier and eventually the interest rate caps off or you become un-lendable.

When you find yourself unable to qualify for either type loan mentioned above most people resort to Payday loans. Payday loans are different. The major difference between payday loans and the other two types of loans are that in some states payday loans can cap off at 700% annual interest. These are loans that many people are stuck with for years. They continually make interest-only payments and never get out of debt. That’s where payday loan consolidation comes in. A reputable payday loan consolidation company is able to have that interest rate reduced to 0%. In addition when you have a 0% interest rate your payments are adjusted and you have a finite time to get out of debt. Payday loan debt consolidation is the only way to get out of that last resort loan you took.

Payday loan debt consolidation can stop harassing phone calls immediately. In addition besides stopping the phone calls and lowering the interest rates payday loan consolidation will change your life for the better. Payday loan consolidation will get you out of debt.

07 Jan 2020
consolidate payday loans

New Year’s Resolution 2020!

The best New year’s resolution I have made this year! No, I already quit smoking years ago. I don’t drink I don’t Gamble. I have no vices. I mean that sincerely. So consequently those are not my New year’s resolutions. I have nothing to quit. My New year’s resolution is a resolution of another kind. I have promised my family and myself that it’s time for me to get my stuff together and to get out of debt.

Yesterday I filled out a form online with this company whose blog I’m posting on now and that form I filled out was a form that will consolidate my payday loans for me. Yes, my payday loans. I never thought that would be me. I especially never thought that would be me paying 600% interest per year on a small balance $1,000 loan. I knew when I took it out it would be hard to repay…. So I filled out this form yesterday and received the call first thing this morning. I was told by the representative that I spoke with, who incidentally is a certified credit counselor that I could be out of debt is less than a year at an interest rate of 0%. She told me her company is able to work with my creditors or in my case creditor and they will reduce the interest rate on these high interest loans to 0% as long as I make my monthly payments on a timely basis. I can afford $80 a month. I can get out of debt within the next year.

I’m not going to get caught up in the cycle of rolling over payday loans to pay off payday loans and staying in debt for the rest of my life. I know people that have done that. I need to be free from this burden of payday loan debt. This is something that I owe to my family and something that I’m going to complete and that I will never do again. The thought of paying 700% interest on a payday loan is insane. Truth be told I take full responsibility for taking out these payday loans, but I was desperate. Although I do take the responsibility, and I take it seriously because I’m going to pay this debt off I still really can’t believe that these companies are legally allowed to charge me somewhere between 200 and 700% interest on a short-term loan. When I took that loan out back 3 months ago it was freezing outside and they were going to turn off my electricity. I was desperate and desperate people sometimes take out payday loans. I’ve learned my lesson. I’m not doing this ever again and today is the first step toward making this year and next Christmas really lovely. By then I will be debt free!

06 Jan 2020
consolidate my payday loans

Payday Loan Debt Consolidation is a Winner!

One Mans Story.. payday loan debt consolidation is a winner! I didn’t mean to fall into the downward spiral of payday loan addiction. It was just so simple to get the money and my paycheck was about $100 short each week of being able to support my family. My boss said the company was doing badly and he couldn’t help me out. Before I knew it I was $1,500 in payday debt. I had to change my bank account. My phone rang constantly with people demanding that I payback the payday loans that I took.

I was really at my wit’s end. Collectors actually knocked on my door. I live in a small town and the owners of the payday loan company wanted their money back. Don’t misunderstand me. They weren’t harassing me with physical threats but they were knocking on the door wanting to get paid back the payday loans that I took out. Then I went online. I decided to go shopping for a payday loan consolidation company. I wanted an old established honest organization to consolidate my payday loans.

I tripped over Federated Financial’s website and when I saw their A plus rating with the BBB, and that they were in business for 23 years I knew I found the PDL company I wanted to consolidate my payday loans… Starting Today! I called them and they were wonderful. I gave M******* all my information, meaning the names of the payday loan companies that I needed to consolidate and they went to work. The harassing phone calls stopped. That was a gift. Harassing phone calls at all hours of the night were making my wife nervous. Federated contacted my creditors and my creditors reduced my interest rate from almost 500% per annum down to zero percent.

In other words I just had to make payments on the principle. All of a sudden what had looked like payday loan hell didn’t look that bad any more. I was given an affordable payment. I’m lucky I found what I consider to be the best and most legitimate payday loan consolidation company in the country. Their A+ BBB rating is well deserved.I was able to pay off my payday loans in 6 months and my wife was finally able to get a job and now we can pay the bills. Federated Financial’s payday loan consolidation program works. This is an unsolicited testimonial. I wrote this because I believe that payday loan debt consolidation makes a huge difference in your ability to pay down your payday debt. ( GH. Florence SC)

Federated Financial has helped thousands consolidate their payday loan debt, fill out our online contact form and start on your path to becoming debt free!