Bills suck! That’s not a new concept. Being behind on your bills during the Coronavirus really sucks. It’s tough to make a buck these days. Many hard-working Americans have fallen behind on their bills during these strange days. What happens if you just can’t pay? I’ll begin by saying I’m not an attorney but I’ve had many years of experience in this business. This is not legal advice but this is the way I’ve seen it go down. Creditors have rights. Yes, your lender has structured their contracts to make sure that they always have recourse if you default on your payday loan. Speaking from experience I can tell you that the phone will ring off the hook at all the wrong times. Calls from the people who loaned you the money. You will receive mail that could be threatening. Are some of the threats illegal? From what I’ve seen through the years the answer is yes but nonetheless, they can be frightening. You might even have somebody knock on your door. I’ve heard of that happening too. At the end of the day, if these people don’t get paid they will more than likely file suit against you for money’s owed, fees, and attorney costs. If you can’t work out a payment arrangement depending on where you live, they might have the right to go to garnish your income, or your personal property. If this were to happen you could very well fall deeper into the trap because they’d be taking a portion of your salary each week. That could happen. At that point, It would be difficult to pay any of your bills.
What can you do? Hopefully, you haven’t been served and sued. If that is the case Federated Financial can probably help. You don’t need to hire a lawyer if an action has not been filed against you yet. Federated Financial is one of the oldest payday loan consolidation companies in the country. We are rated A+ with the BBB. We are going into our 24th year of business. In most cases we can get your creditors to reduce their interest rates all the way down from 5, 6, or 700% to 0% APR which saves you money each month and consequently lowers your monthly payment. It’s better than taking out a consolidation loan because a consolidation loan will cost you money and interest payments. Taking out one loan to pay off another makes no sense. All you need to do is to fill out the simple form on the top of our page or give us a call during business hours. Somebody will be back to you quickly or at the start of the next business day. Our program is tried and true and it absolutely works for most people. Let one of our certified counselors tell you all about it and let you decide if it can work for you too.