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02 Jul 2019
eliminate my payday loans

Debt Consolidation Is Key to paying off high-interest payday loans.

Pooling debt together for one easy payment gets rid of insanely high payday loan interest rates. Debt consolidation is one of the most powerful weapons in your arsenal for blasting away debt. This method of paying down debt works for many people who have become overwhelmed by high payments and snowballing interest.

Payday Loan Debt Consolidation Benefits

When combined into one, it’s often possible to get a lower interest rate on your debt. In most cases this rate can be 0%. This can result in lower payments, reducing the financial burden on you during the repayment process. Ultimately, all of your money goes to repaying the principal instead of paying crippling high interest rates.

The option to pay off consolidated payday debt over a longer period of time can make monthly payments lower. With lower monthly payments than you’re currently paying now, you’ll get some breathing room while you get the debt paid off.

The Simple Key to Financial Freedom

Having only one monthly payment simplifies payday loan repayment. This makes it easier to get personal finances on track, break the cycle of being overwhelmed and get out from under high-interest credit cards for good.

Instead of dealing with multiple creditors and accounts, with payday loan consolidation you have the ease of paying on one account and dealing with one financial institution. Instead of multiple transactions, you can make your monthly payment from your favorite device.

Best of all, payday debt consolidation can improve your cash flow. Instead of a constant struggle to keep up with high-interest payday loans, your financial life is back in control.

With a personalized plan that meets your needs, you take charge and fix the debt that might might be dragging you down. The simple tactic of consolidating your debt reduces the worry and complications of handling multiple payday loans and the ridiculous amount of interest they charge. I certified counselor helps you determine your goals and payment plan and designs the right solution for your needs. You get to spend more of your salary on things that matter and reduce your debt.

This simple process has worked for people with massive debts from payday loans, including people who had given up on being able to get out from under debts that were ruining their life. This easy method truly is the key to remove high interest payday loans.

14 Jun 2019
stop collection calls

Using Debt Consolidation To Solve Your Payday Loan Problems

The payday loan industry is booming. In fact, there are over 20,000 payday lenders in the United States. People get payday loans because they are a lot easier to get than traditional loans. A steady source of income and a bank account are the only things that most lenders require to approve you for a payday loan.

Payday loans can make things convenient for you if you need to get funds quickly. However, many people are in debt because of payday loans. If you are struggling to pay off payday loans, then you need debt consolidation.

One Payment

Your life will be a lot easier if you only have to make one payment every month. You will not have to worry about trying to decide which loan you can pay off first. you make one payment to the debt consolidation company and they disperse the money to your payday lender at a 0 interest percent rate. (In most cases)

Save Money

In many cases, people are able to save money by using debt consolidation. The single payment that you make towards debt consolidation may be less than all of your monthly payments combined.

Stress Reduction

Debt is a major source of stress for people. Some people stay up at night thinking about all of the debts that they have to pay. Debt consolidation helps reduce your stress because you only have to make one payment every month. You can spend your time focusing on other things instead of your debts.

Stop Collection Calls

Payday lenders will turn your account over to a collection agency after it has not been paid for a certain amount of time. The endless collection calls are one of the many things that makes being in debt very stressful. When you start a consolidation program and start paying off your debt the collection calls will stop.

11 May 2019
consumer financial protection bureau

Why you need to consolidate your payday loans now!!

KATHY KRANIGER….That is a name that Payday Loan borrowers won’t soon forget…Appointed by Donald Trump to replace Mick Mulvaney, interim director of the Consumer Financial Protection Bureau, she was narrowly confirmed by the senate in a 50 to 49 vote.

Before her nomination she was pretty much an unknown in DC. She last served as associate director at the Office of Management and Budget, controlling a quarter billion dollar budget inclusive of seven cabinet departments including the Department of Justice. She has no formal experience in Consumer Financial Protection.

The CFPB was formed in 2011. It’s mission was to protect consumers who were taking on any new financial obligations including but not limited to loans, mortgages credit cards and Payday Loans.

Kraniger is the new permanent director, taking over the job from interim Director Mick Mulvaney. Mulvaney was a Trump appointee. The CFPB has always been an agency with problems and these problems became clear and controversial during the Trump, Mulvaney era.

Upon his appointment Mulvaney called the CFPB a “sick sad joke” and sweeping changes ensued. One of Mulvaney’s reforms was to relax restrictions on payday lenders. Many people feel that Kraniger as a Trump appointee, will continue the agenda of Mick Mulvaney opening the doors for the Payday Loan industry to continue charging exorbitant interest rates, penalties and fees.

In 2014, the CFPB determined that that approximately fifty percent of all Payday Loans end up becoming ten loans long, constantly rolling over at the Borrowers expense.

Democrats fear this practice will continue under the Leadership of Kathy Kraniger.

27 Apr 2019

Will I Save By Consolidating My Payday Loans?

Will you save money by consolidating your payday loans? That depends on your current payday loan debt as well as the consolidation options available to you. Let’s take a look at whether consolidating your payday loans can help you save money.

How Much Do You Owe?

It doesn’t matter what you owe. In most cases a payday loan consolidation program will lower your interest rate down to 0%. You’ll be paying principal as opposed to interest. You’ll get out of debt quicker and as long as you make your payments on time you will not be harassed.

What Are Your Consolidation Options?
Whatever you do, do not take a loan against secured property to pay off your payday loans. In many states your home is protected from any and all creditors. There’s no reason to risk the roof over your head to pay off a creditor. The best payday loan consolidation option is a debt management plan which would lower your interest rate in most cases to 0% or possibly result in part of your balance being forgiven.

Some Options May Not Be Available to You

It is important to point out that some consolidation options may not be available to you. This is because most people who opt for payday loans have poor credit. The best way to go is a credit counseling payday loan consolidation plan. Hey work!

In extreme cases, bankruptcy may be your only option. However, this may be a good thing because your payday loan debt may be fully discharged in a matter of weeks. Although your credit will take a hit, you don’t have to worry about paying off your payday loan debt.

Will you save by consolidating payday loans? The answer is a resounding yes! There are very few situations where a Payday loan consolidation program can’t help you. More than likely you’ll be debt-free within a year and ready to move on with your life.

11 Mar 2019

Payday Loan Interest Rates: Why You Should Consolidate

For most people taking out a payday loan is done an in emergency . You might have a car needing repair and you do not have the money. You might have an appliance that is broken and needs immediate replacement. Payday loan providers normally give out loans to anyone, regardless of their credit status. While this might seem like a great loan for people who have been denied by banks, payday loan providers protect themselves by charging very high interest rates.

The interest rates attached to a payday loan can run up to 700% per year. Many can’t afford it . If you have one payday loan, it can be difficult to deal with, if you have two or more payday loans at the same time you more than likely have to default on them. it is very difficult to pay principal and interest at that type rate. Because of high payday loan interest rates, consolidation might be your best option. Consolidating a loan simply means that its payments are going to be less each time you pay the loan back. In general, the interest rate reduces to zero consequently it will be easier for to afford each week’s payment.

Because payday loan payments can be incredibly demanding, consolidating your current loans is going to save you from financial ruin. The problem with payday loans is that their interest rates are so high that it is difficult for most people to pay them off. Take into consideration the fact that you might have poor credit or no credit at all, and nonpayment of these loans can have a devastating effect on you and your loved ones. Your credit score can go lower and lower when you are struggling to pay off payday loans.

Consolidating these loans is a the best option if you’ve been noticing that the payments are too much for you to afford comfortably. The key to getting a payday loan is to have quick cash in your hand for emergency situations, and then to pay off the loan just as quickly as you can. Consolidating these loans allows you to have more time to pay off the loan while also making its payments a lot easier for your budget. If you currently have one or more payday loans that need to be paid off, you might want to consider the benefits that come with loan consolidation. In most cases interest reduction down to 0%

16 Dec 2018
consolidate my payday loans today

Why are Payday Loans So Dangerous?

Why are Payday Loans So Dangerous? Some people think payday loans are the most important things on the planet. Reality says, these types of loans can create tons more trouble than they’re worth. Understanding the problems that can result from taking out a payday loan will make it easier to decide if this is something that you really want to do. Here are key facts to keep in mind.

High Interest Rates

While it’s true that many states have passed laws limiting the amount of interest a payday lender can charge. Notwithstanding those laws, there are some states that allow lenders to charge interest rates up to 700% Annually. the interest payments are significantly higher then the payment of principal. These are called predatory lenders. Worst of all their enabled by the states that they operate in.

Under dire circumstances and with no other options, it would still better to invest the time in securing a short-term loan from a local bank. While it may take longer to be approved, the interest rate will be considerably lower.

Additional Fees and Charges

There are often some additional fees bundled in with the total amount you have to repay. They are sometimes referred to as application fees, posting fees, or processing fees. Along with the usurious interest rates, you could end up paying the lender a fee for depositing the check which is payment for the actual loan.

The Collection Madness

If you can’t settle the loan according to the original terms, there is no sympathy from a payday loan lender. More then likely, your check will be presented for payment even if you’ve advised the lender that the money will not be in your account. At that point the bank will assess NSF charges, and the lender can begin collection upon check return.

There could be a barrage of calls at work and at home demanding immediate payment. These calls could put your job in jeopardy. Threatening letters will start showing up in the mail. The check could be turned over to the local back check unit operated by the local municipality. By the time this check is paid, that loan you took out to cover the repairs to the car will cost you a fortune.

Payday loans are not something to choose lightly. You need to look at all options for a pressing pressing obligation before choosing payday loans. In the long run, you’ll save money, avoid a lot of legal problems, and not have to be frightened every-time the phone rings or the mail arrives.